WASHINGTON—Oil executives defended themselves in the Congress on Wednesday from charges by lawmakers that they are gouging Americans with high fuel prices, saying that they are boosting energy output and no one company sets the price of gasoline. Members of the House of Representatives Energy and Commerce Subcommittee on Oversight and Investigations grilled companies on why gasoline prices remain elevated even though prices have dropped for crude oil. U.S. gasoline prices have surged since Russia’s invasion of Ukraine in February and after Western countries slapped sanctions on Moscow’s energy exports. Pump prices hit a record, before inflation, of $4.33 a gallon on March 11, and since then have slipped about 4 percent to $4.16 a gallon, according to the AAA motorist group. In the same time frame, U.S. gasoline futures have fallen more than 7 percent to $3.07 a gallon as international crude prices have dropped more steeply, more than …
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