Federal Price Gouging Prevention Act

Summary

Federal Price Gouging Prevention Act - Makes it unlawful for any person to sell crude oil, gasoline, natural gas, or petroleum distillates at a price that: (1) is unconscionably excessive; or (2) indicates the seller is taking unfair advantage unusual market conditions or the circumstances of an emergency to increase prices unreasonably. Declares unlawful: (1) intentional reporting of false price information concerning wholesale prices of such products; and (2) market manipulation regarding the purchase or sale at wholesale of such products. Empowers the Federal Trade Commission (FTC) and State Attorneys General to enforce this Act. Sets forth civil and criminal penalties for violations of this Act. Requires fines and penalties collected under this Act to be deposited in a separate fund in the treasury to be known as the Consumer Relief Trust Fund to provide assistance under the Low Income Home Energy Assistance Program (LIHEAP) administered by the Secretary of Health and Human Services. Declares that nothing in this Act preempts state law. Directs the FTC to facilitate price transparency in wholesale markets for the sale of crude oil and essential petroleum products.

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Documents

8 official files

• Referred in Senate (text)

  Referred in Senate · EN · 24 May 2007

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• Referred in Senate (PDF)

  Referred in Senate · EN · 24 May 2007

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• Engrossed in House (text)

  Engrossed in House · EN · 23 May 2007

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• Engrossed in House (PDF)

  Engrossed in House · EN · 23 May 2007

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• Passed House amended

  summary · EN · 23 May 2007

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• Introduced in House (text)

  Introduced in House · EN · 28 February 2007

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• Introduced in House (PDF)

  Introduced in House · EN · 28 February 2007

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• Introduced in House

  summary · EN · 28 February 2007

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