Manipulation of rising gas prices today? The state of California is overpaying for gas, according to Governor Gavin Newsom, who says regulators should keep an eye on rising energy prices, according to Business Insider. California residents are paying nearly 600% surcharges on natural gas prices.

“The root causes of rising gas prices in the United States require further investigation,” the governor said in a letter.

He sees a need to investigate skyrocketing natural gas prices for market manipulation and other misconduct.

The governor sent a letter to the U.S. Federal Energy Regulatory Commission pointing to the fact that since late November 2022, wholesale natural gas prices in the state have risen to alarming levels that far exceed prices in the rest of the country.

While overall U.S. gas prices have fallen to $2.80 per million, British thermal units, down 70% from their highs last August; in California they averaged $19.40 per million British thermal units in early January, a nearly 600% premium.

Newsom has demanded an investigation into the reasons for these extraordinary prices, which are affecting the state’s industrial, agricultural and water utilities.

Earlier we reported that oil was losing price for the second day in a row.