Federal lawmakers tackling gas prices, regulations - KWWL - Eastern Iowa Breaking News, Weather, Closings

Federal lawmakers tackling gas prices, regulations

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WASHINGTON, D.C. (KWWL) -

Gas prices across the US have started to fall in recent weeks, now averaging $3.84 a gallon.

But with gas still so close to $4 a gallon, lawmakers in Washington, D.C. want answers.  So members of the oversight and government reform committee are holding hearings on Capitol Hill. Testimony has focused on excessive speculation to determine gas prices and on domestic oil drilling and exploration.

Some lawmakers have said the government's regulations are impeding progress.

So President Barack Obama's administration will soon be unveiling plans to curb those regulations. 

White House officials said after a four-month review by federal agencies, officials have compiled proposals for getting rid of or revamping enough regulations to save businesses billions of dollars.  One of the proposal is to do away with an EPA requirement for vapor recovery systems at gas stations.

 

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