US task force to check if gas prices drop as oil falls

WASHINGTON Fri May 6, 2011 8:15pm BST

WASHINGTON May 6 (Reuters) - U.S. Attorney General Eric Holder on Friday directed a special task force to look into whether gasoline prices are falling in the wake of the drop in oil prices and if not, whether it was because of fraud or market manipulation.

"If wholesale prices continue to decrease, fraud or manipulation must not be allowed to prevent price decreases from being passed on to consumers at the pump," Holder said in a memorandum to a special task force working group set up to probe possible fraud and manipulation in the energy markets.

(Reporting by Jeremy Pelofsky, editing by Will Dunham)