McCaskill Moves to Ban Gas Price Gouging

Press Release

McCaskill co-sponsors bipartisan legislation to stop price gouging at the gas pumps

Today, U.S. Senator Claire McCaskill is tackling yet another campaign promise by offering bipartisan legislation with 12 of her colleagues to ban price gouging at the gas pump. The bill McCaskill co-sponsored would establish safeguards against exploitation of consumers by oil companies at the federal level. Currently, no federal laws exist to address gas price gouging.

"Gas prices in Missouri are nearly $3.00 a gallon, so people are already feeling the pinch on the pocketbook," McCaskill said. "Without strong laws banning price gouging, we will remain vulnerable to market manipulation and consumer exploitation in times of national emergencies, as we learned in the cases of 9-11 and Hurricane Katrina."

The legislation would completely ban gas price gouging, and give the Federal Trade Commission (FTC) the ability to investigate and fine companies found guilty of such actions.

The bill also gives the president the authority to declare a national energy emergency when shortages of gas supplies threaten to hurt the welfare or economic well-being of Americans. During such an energy emergency, those found guilty of price gouging would be subject to additional penalties. With the energy emergency declaration, the FTC would be required to establish a hotline to provide gas price information to consumers and conduct price gouging investigations in areas affected by the energy emergency.

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