WASHINGTON (AP) — A businessman who owns nearly half of all gas stations in the District of Columbia is defending himself against an anti-trust probe.
The D.C. attorney general’s office is investigating Joe Mamo and his company, Capitol Petroleum Group of Springfield.
The office wants to know how much Mamo has paid refiners for the gas he’s bought and how much he’s sold it to dealers for.
Mamo says he welcomes the investigation. He tells The Washington Post that his prices are reasonable and that his own profits have taken a hit because of the recent rise in gas prices.
Mamo leases service station properties to independent dealers who set their own prices but who are also required to buy gas from Mamo’s wholesaler.
(Copyright 2011 by The Associated Press. All Rights Reserved.)