With gas prices above $4 in some states, President Obama has ordered a federal investigation to see if fraud or manipulation in oil markets is behind the spike in gasoline prices.

President Obama: “The Attorney General is putting together a team whose job it is to root out any cases of fraud or manipulation in the oil markets that might affect gas prices, and that includes the role of traders and speculators. We’re going to make sure that nobody is taking advantage of American consumers for their own short-term gain.”