Congressman Sandy Levin : Cracking Down on Gasoline Price Gouging

`A` A A

Quick Links

Cracking Down on Gasoline Price Gouging

Return to Energy

In this difficult economy, households are struggling to make ends meet. The last thing consumers need is for oil companies to unfairly raise gas prices through the roof. During the summer of 2008 – even as the oil companies were posting tens of billions of dollars in record profits -- the average price of gasoline soared to more than $4 a gallon. While prices have fallen off since then with the slowdown in the world economy, consumers are still vulnerable to unfair price markups for gasoline and other energy products.

There is currently no federal law against energy price gouging. Because the federal government does not even have a clear definition of what price gouging is, the Federal Trade Commission (FTC) can do little more than study the issue. Studies are not sufficient. Congress must provide real tools to investigate and crack down on price gouging.

I am a cosponsor of the Federal Price Gauging Prevention Act would give the FTC explicit authority to investigate and punish those who artificially inflate the price of energy. Under this legislation, the FTC would be empowered to investigate potential gouging of oil, natural gas, home heating oil, crude oil, and propane prices, and would -- for the first time -- establish a clear, enforceable definition of price gouging. The legislation would also provide the FTC with the authority to stop market manipulation and punish those who artificially inflate the cost of energy.

(Updated August 3, 2009)

To Contact Congressman Levin: - Email Congressman Levin
Site Map - Privacy Policy - Problems with this site?

In Michigan: 27085 Gratiot Ave, Roseville, MI 48066 | (586) 498-7122 | (248) 968-2025
In Washington: 1236 Longworth House Office Building, Washington, DC 20515 | (202) 225-4961