House Passes Bill to Lower Costs, Stop Gas Price Gouging

Press Release

Today, the House of Representatives passed the Consumer Fuel Price Gouging Prevention Act, which includes U.S. Rep. Kathy Castor's (FL14) amendment with Rep. Val Demings (FL10) to investigate price manipulation in the gasoline market and work on a strategy to stabilize oil and gas prices during national crises.

"Big Oil companies are ripping off Americans and pocketing record profits for CEOs and shareholders, and not passing savings on to consumers," said Castor. "Our neighbors have had enough and so have I. That's why I helped pass the Consumer Fuel Price Gouging Prevention Act today, to take critical steps to crack down on price gouging and excessive price increases by Big Oil companies that result in higher prices for hardworking families at the pump and at the grocery store.

"This legislation includes my amendment with my Florida colleague Rep. Val Demings to ensure FTC investigates anti-consumer gouging by oil and gas executives. We cannot allow Big Oil CEOs to manipulate markets in order to make billions on the backs of struggling Americans by overcharging at the pump. Our action today will help protect the pocketbooks of Americans by uncovering price gouging practices rooted in corporate greed, while also taking away the ability of oil and gas executives to profiteer during a time of crisis. This is a big priority for American families. And it's one more way to lower energy costs for families as we transition to cleaner, cheaper renewables, which will lead to true American energy security and energy independence."

Source