WASHINGTON — The U.S. House of Representatives late Friday unanimously approved a resolution "condemning any price gouging with respect to motor fuels” and urged state and federal agencies to fully investigate any incidents of rice gouging in the wake of last Tuesday’s terrorist attacks on New York and Washington.

Late Friday evening, the House passed resolution H. Res. 238, which was introduced by the House Energy and Commerce Committee Chairman Billy Tauzin (R-LA) and Ranking Member John Dingell (D-MI). The resolution was co-sponsored by an additional 39 members of Congress.

With retail motor fuels prices increasing by as much as 300 percent following the attacks on the World Trade Center and the Pentagon—despite ample supplies of product in the market—House members said they believed the pricing practices of "some vendors of motor fuels in the United States may have taken advantage of the uncertainty created by the terrorist acts" and that "price gouging is detrimental to consumer confidence and the economy of the United States."

BARTLESVILLE, Okla. -- Phillips Petroleum Co. announced it has closed on its acquisition of Tosco Corp. this morning after the deal received regulatory clearance from the U.S. Federal Trade Commission. There were no requirements for divestiture of assets, according to the company.