Increased Transparency and Protection Against Fuel Price Gouging
This act aims to protect consumers from unjustified fuel price increases. It introduces new rules for monitoring the fuel market and increases penalties for price manipulation, which should lead to fairer prices at gas stations and in transportation.
Key points
Expands the definition of transportation fuel to include gasoline, distillate fuels, jet fuel, and biofuels, increasing consumer protection.
Increases penalties for market manipulation and spreading false information about fuel prices, discouraging unfair practices.
Establishes a dedicated unit within the Federal Trade Commission (FTC) to monitor the fuel market, collect data, and prosecute abuses, ensuring greater transparency and competition.
Requires energy companies to provide detailed data on fuel imports, exports, refining, and sales, allowing for better market understanding and detection of irregularities.
Expired
Citizen Poll