Bennett and Oregon Attorney General Hardy Myers, co-chairmen of the National Association of Attorneys General Antitrust Committee, said they were concerned about the soaring costs of oil and gasoline following hurricanes Katrina and Rita.

"We stand ready to assist you to investigate possible unlawful conduct by the petroleum industry and others that could be contributing to the increased cost of fuel," the men wrote today in a letter to FTC Chairman Deborah Platt Majoras.

More than 45 states are already investigating the cause of the escalating fuel costs since late August, when Katrina slammed into the Gulf Coast, according to the letter. They noted that the average price nationally for regular unleaded gas was above $3 a gallon, and said the cost of home heating oil would likely rise as temperatures begin to drop across the mainland.

Although the FTC does not have jurisdiction to prosecute cases of criminal violations of federal antitrust laws, it can refer those cases to agencies that do, Bennett said.

Meanwhile, Senate minority leader Harry Reid today challenged congressional Republicans to hold hearings to investigate rising fuel costs, saying oil companies are reaping large profits while raising prices at the pump.

"The money is going to these big oil companies, and we want to know why they're making the money they are and we want to see their books," Reid, D-Nev., said at a Las Vegas news conference to promote energy legislation by Democrats.

Last month, attorneys general from a number of states held a telephone strategy session to discuss the rapidly escalating fuel prices and possible investigations into gouging. Prosecution for price gouging is generally a state matter unless it involves some form of collusion or other activity in violation of federal antitrust laws.