Gas Price Investigation: Are Market Manipulations Affecting Your Wallet?
This act directs the Federal Trade Commission (FTC) to investigate whether gasoline prices are being artificially inflated. The goal is to determine if market manipulation or price gouging practices are impacting how much you pay at the pump. The findings will help Congress develop strategies to protect consumers from unfair practices.
Key points
The FTC will investigate if gasoline prices are manipulated, for example, by reducing refinery capacity or through price gouging.
The Commission will consider the impact of mergers and acquisitions in the oil and gas industry on fuel prices.
Within 270 days, the FTC will submit a report to Congress with findings and a long-term strategy.
One million dollars is authorized for the FTC to carry out this section for fiscal year 2023.
Status:
Expired
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