A bill to require the Federal Trade Commission to monitor and investigate gasoline prices under certain circumstances.

Summary

Requires the Federal Trade Commission (FTC) to investigate the retail price of gasoline in a state in which the average price of regular grade gasoline has increased 20 percent or more for at least seven days during any three-month period in order to determine if the price is being artificially manipulated by reducing refinery capacity or by any other form of manipulation. Requires the FTC to: (1) report to Congress within 14 days after initiating an investigation; and (2) present investigation results, within 14 days after reporting to Congress, at a public hearing in the state in which the retail price of gasoline was investigated. Requires the FTC, in cooperation with the Attorney General of the relevant state, to take appropriate action if it determines that the increase in gasoline prices in a state is a result of market manipulation. Requires the FTC to notify the Secretary of Energy, who shall, within two weeks of such notification, decide if the Strategic Petroleum Reserve should be used to assure adequate supplies of gasoline, if the FTC determines that the increase in gasoline prices in a state is not the result of market manipulation.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 May 2005

   Introduced

   Read twice and referred to the Committee on Commerce, Science, and Transportation.

   Source: IntroReferral

2. 26 May 2005

   Introduced

   Sponsor introductory remarks on measure. (CR S6038-6039)

   Source: IntroReferral

3. 26 May 2005

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 May 2005 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 May 2005

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 May 2005

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 May 2005

  Open at official source

Sponsors

• Rep. Boxer, Barbara [D-CA-6] · D · Sponsor
• · sscm00 · Standing

Related records

• related to → To require the Federal Trade Commission to monitor and investigate gasoline prices under certain circumstances.