Consumer Fuel Price Gouging Prevention and Market Transparency
This act aims to protect consumers from unfair fuel price increases during emergencies. It introduces market monitoring mechanisms and increases penalties for manipulation, ensuring more stable prices and greater transparency. This provides citizens with better protection for their finances during difficult times.
Key points
Prohibits unfair price gouging of consumer fuels (gasoline, diesel, propane, etc.) during declared energy emergencies.
The President can declare an energy emergency in a specific area, triggering the price gouging prohibition.
The Federal Trade Commission (FTC) will enforce these rules, and State Attorneys General can act in cases of retail sales.
Increased penalties for market manipulation and false information regarding fuels.
Mandates the collection and public release of fuel market data to enhance transparency.
Establishes a dedicated unit within the FTC to monitor fuel markets and detect irregularities.
Funds collected from penalties will be used for low-income energy assistance programs.
2022-05-19
For
217
Against
207
Abstain
0
Full voting results
open_in_new
Expired
Additional Information
Print number: 117_HR_7688
Sponsor: Rep. Schrier, Kim [D-WA-8]
Process start date: 2022-05-06
Voting date: 2022-05-19
Meeting no: 2
Voting no: 232