As gas prices nationwide continue to hit record highs – and experts predict that they could go even higher as we enter the summer months – the House of Representatives passed a bill aimed at alleged combatting price gouging at the pump.
The bill would make it "unlawful" to sell fuel "during a period of an energy emergency" at a price that "indicates the seller is exploiting the circumstances related to an energy emergency to increase prices unreasonably" and is "unconscionably excessive." It would also allow the Federal Trade Commission to take action if price gouging is discovered.
The legislation, known as the Consumer Fuel Price Gouging Prevention Act, passed in a nearly party-line 217-207 vote, with four Democrats breaking ranks and joining every House Republican to oppose the bill. Democratic "no" votes included Reps. Kathleen Rice, D-N.Y., Lizzie Fletcher, D-Texas, Jared Golden, D-Maine, and Stephanie Murphy, D-Fla.
As of Thursday, according to AAA, the average price for a gallon of regular gas nationwide is $4.59, a 17-cent increase from the week before. All 50 states have average gas prices of more than $4 per gallon.
AAA blamed the increase on the high price of crude oil, and noted that the seasonal switch to the more expensive summer blend of gasoline, which can add a cost of anywhere from 7-10 cents per gallon, is underway.
The bill is unlikely to pass the Senate, where it would need 10 Republicans to support the measure in a 50-50 chamber, but Thursday's vote will no doubt will serve as a key point of messaging for Democrats ahead of the midterm elections. Republicans have blamed Democrats and President Biden's policies for an increase in gas prices, while Democrats have sought to fault Russia's invasion of Ukraine, which disrupted global fuel supply, as well as accuse oil companies of price gouging, citing record profits.
"What's infuriating is that this is happening at the same time that gas and oil companies are raking in record profits, and then putting those dollars into stock buybacks," said Rep. Kim Schrier, D-Wash., who co-sponsored the bill, adding: "My constituents, they just deserve a fair market. And what's happening right now feels wrong. It feels like price gouging."
GOP lawmakers say the answer to higher gas prices is to increase production here in the United States.
Louisiana Rep. Steve Scalise, the No. 2 House Republican, called the bill an attempt by Democrats "to distract and shift blame from the administration’s self-inflicted energy and inflation crisis" and branded the bill a "socialist price-fixing scheme that hurts small businesses and consumers the most."
