U.S. oil executives will tell Congress on Wednesday they are boosting energy output and no one company sets the price of gasoline, according to pre-released written testimony, as they defend charges by lawmakers of gouging with high fuel prices. Lawmakers in the U.S. House Energy and Commerce Subcommittee on Oversight and Investigations are holding the hearing, slated for 10:30 ET (14:30 GMT), to grill companies on why gasoline prices remain elevated even though prices for crude oil, the feedstock for fuels, have dropped. U.S. gasoline prices, driven up by Russia’s invasion of Ukraine and Western sanctions on Moscow’s energy exports, hit a record, before inflation adjustments, on March 11 of $4.33 a gallon and slipped to $4.17 a gallon on Wednesday, according […]