Council Weighs Black Man's Monopoly of DC Oil Market

September 29th, 2011 - By TheEditor

(Washington Post) — A D.C. Council effort to break up what some members call a near monopoly of the local gasoline market has stalled as a result of aggressive lobbying on behalf of Eyob “Joe” Mamo — whose company owns, operates or supplies 164 stations in the Washington area.  As the primary owner in Capitol Petroleum Group, Mamo has built a regional powerhouse in the fuel market, netting $778 million in revenue last year. And in May, as area gas prices soared past $4 a gallon, council member Mary M. Cheh (D-Ward 3) sponsored antitrust legislation to break Mamo’s grip in the District by banning wholesalers from also owning retail service stations.  Concerned that the District has among the highest fuel prices in the nation, the council’s Committee on Government Operations and the Environment in July approved Cheh’s legislation, which was widely expected to come to up for a full council vote this month.

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