On Agreeing to the Amendment — H R 7688

Consumer Fuel Price Gouging Prevention Act This bill prohibits any person from selling, during a proclaimed energy emergency, a consumer fuel at a price that (1) is unconscionably excessive, and (2) indicates that the seller is exploiting the emergency to increase prices unreasonably. The President may issue a proclamation of such an emergency that specifies the consumer fuel and geographic area covered and how long the proclamation applies. The bill provides for enforcement of these provisions by the Federal Trade Commission and state attorneys general. Civil penalties collected by the commission through such enforcement must be used to provide assistance under the Low Income Home Energy Assistance Program. Additionally, the commission must investigate whether the price of gasoline is being manipulated through reducing refinery capacity or other manipulative practices. The commission also must establish a Transportation Fuel Monitoring and Enforcement Unit to collect, monitor, and analyze crude oil and transportation fuel market data. The bill further includes specified transportation fuels within the prohibitions against (1) manipulative market practices, and (2) reporting false price information. It also increases the penalty for violations of those prohibitions. Finally, the Energy Information Administration must survey energy companies to facilitate transparent and competitive crude oil and transportation fuel markets.