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Petroleum Price Reduction Act: Fuel Export Controls

This act aims to lower fuel prices in the U.S. by controlling and prohibiting the export of crude oil and refined petroleum products when oil prices exceed certain thresholds. This could impact the cost of filling up vehicles and overall energy expenses for households.
Key points
The government can ban crude oil and fuel exports if West Texas Intermediate oil prices exceed $70 per barrel for three consecutive days, five out of ten days, or $80 at any time.
The export ban can be lifted if oil prices stay below $70 for 15 consecutive days and U.S. crude oil supply is stable or increasing.
The President can adjust price thresholds for inflation and waive the ban for existing contracts or national security reasons.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_9560
Sponsor: Rep. Sherman, Brad [D-CA-30]
Process start date: 2022-12-14
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Petroleum Price Reduction Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9560.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-12-14.

What are the main provisions?

Key points include:

  • The government can ban crude oil and fuel exports if West Texas Intermediate oil prices exceed $70 per barrel for three consecutive days, five out of ten days, or $80 at any time.
  • The export ban can be lifted if oil prices stay below $70 for 15 consecutive days and U.S. crude oil supply is stable or increasing.
  • The President can adjust price thresholds for inflation and waive the ban for existing contracts or national security reasons.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sherman, Brad [D-CA-30].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Foreign Affairs.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy