Rep. Payne, Jr. Votes to Stop Price Gouging and Lower Fuel Costs for Americans

Press Release

Rep. Donald M. Payne, Jr. voted for the Consumer Fuel Price Gouging Prevention Act today. The bill, H.R. 7688, gives the President the power to declare an "energy emergency" when events cause supply restrictions for consumer fuels, such as car fuel, aviation fuel, home heating oil, and liquid propane. Then the bill makes it illegal to sell these fuels at excessive or exploitative prices during such an emergency, known as price gouging. It gives the Federal Trade Commission the power to penalize companies for price gouging and prioritizes companies with total sales in excess of $500 million annually for these penalties. In addition, it protects independently-owned gas stations for taking the blame for fuel price increases caused in the supply chain.

"Every New Jersey resident who has filled up their gas tank in the last two months understands that prices are excessively high," said Rep. Donald M. Payne, Jr. "But there is no incentive for oil and refining companies to increase production, lower prices, and help American consumers. They have no problem robbing hard-working American families and using that money for stock buybacks and executive bonuses. But this bill would bring some needed accountability into the oil market and keep prices reasonable during a fuel emergency like the one we have today."

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