House Approves Bill To Ban Gasoline ‘Price-Gouging’—But It’s Unlikely To Pass In Senate

House Approves Bill To Ban Gasoline ‘Price-Gouging’—But It’s Unlikely To Pass In Senate

Share to Linkedin Legislation designed to ban oil companies from excessively bumping up gas prices was passed by the House on Thursday, but it faces an uncertain fate in the Senate, as Americans face record-high prices at the pump and gas tops $4 per gallon in all 50 states. High gas prices at stations on the corner of Valley View Street and Chapman Avenue in Garden Grove, ... [+] CA The bill, titled the Consumer Fuel Price Gouging Prevention Act, passed the House in a 217-207 vote, with every Republican and four Democrats voting nay. Democratic Reps. Stephanie Murphy (Fla.), Lizzie Fletcher (Texas), Kathleen Rice (N. Y.) and Jared Golden (Maine) voted no. The legislation would give President Joe Biden the power to make it illegal for gasoline to be sold at "unconscionably excessive" prices, and would let the Federal Trade Commission seek penalties if evidence pointed to an unfair uptick in gas prices. Reps. Kim Schrier (D-Wash.) and Katie Porter (D-Calif.) introduced the bill. To pass in the Senate, the bill would need the backing of 10 Republican senators plus every Democratic senator. As gas prices soar nationwide, some Democrats have argued unfair corporate practices could be partially to