(Bloomberg) -- President Joe Biden asked the Federal Trade Commission to probe possible criminal conduct in U.S. gasoline markets, raising suspicion about differences between pump prices and the cost of wholesale fuel. 

“I do not accept hard-working Americans paying more for gas because of anti-competitive or otherwise potentially illegal conduct,” Biden said in a letter Wednesday to FTC Chair Lina Khan. He pointed to “mounting evidence of anti-consumer behavior by oil and gas companies.”

The FTC “has authority to consider whether illegal conduct is costing families at the pump,” Biden said. “I believe you should do so immediately.” 

The FTC is an independent agency that is not directed by the White House, though Biden selected Khan as its chair and the agency can choose to follow the president’s suggestions.

A White House official said the agency could decide to begin an investigation to collect data on how gas companies set prices, as well as data on actual pricing. Biden asked the commission to “further examine what is happening with oil and gas markets, and that you bring all of the commission’s tools to bear if you uncover any wrongdoing.”

Biden wrote to Khan as Americans are feeling the effects of higher prices across much of the economy, an issue that’s also hurting him politically as his poll numbers continue to sag. The October consumer price index was up 6.2% from a year earlier, with energy costs a major driver. Gas prices were up 49.6% from October 2020.

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