Transportation Fuel Market Transparency Act

Summary

Transportation Fuel Market Transparency Act This bill expands prohibitions against manipulating fuel markets, establishes a body within the Federal Trade Commission (FTC) to monitor fuel markets to ensure competitiveness, and addresses related issues. Prohibitions against the manipulation of wholesale fuel markets or reporting false (or misleading) information shall apply to actions related to crude oil and transportation fuel, defined in this bill to include gasoline, distillate fuels, jet fuel, aviation gasoline, and biofuel. Currently, such prohibitions only apply to crude oil, gasoline, and petroleum distillates. The bill further expands the prohibition on reporting false information to include such information that (1) concerns the supply of, operational actions related to, or output related to wholesale fuel markets; (2) is not required to be reported by law; or (3) affects the analyses or data compiled by a private sector price-reporting agency. The bill also increases the maximum civil penalty for violating these prohibitions from $1 million to $2 million for each day of the violation. Furthermore, the bill establishes within the FTC the Transportation Fuel Monitoring and Enforcement Unit. The unit must continuously and comprehensively collect and analyze fuel market data to support competitive market practices, identify market manipulation and other unfair methods of competition, and facilitate enforcement of competition-related statutes. The Energy Information Administration within the Department of Energy must collect data to facilitate transparent and competitive transportation fuel markets, determine adherence to sanctions, and protect consumers.

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Timeline

1. 12 May 2022

   Introduced

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

   Source: IntroReferral

2. 12 May 2022

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 25 May 2022

   Failed

   Committee on Commerce, Science, and Transportation. Failed to report favorably.

   Source: Committee

4. 22 June 2022

   Committee

   Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-848.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 12 May 2022 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 12 May 2022

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 12 May 2022

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 12 May 2022

  Open at official source

Sponsors

• Maria Cantwell · D · Sponsor
• Ron Wyden · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Catherine Cortez Masto · D · Cosponsor
• · ssbk00 · Standing
• · sscm00 · Standing

Related records

• related to ← Transportation Fuel Market Transparency Act