(WBBM NEWSRADIO) - Illinois U.S. Sen. Tammy Duckworth is sponsoring legislation that aims to discourage gasoline price-gouging.
The bill would make it illegal under the Federal Trade Commission Act to sell gasoline at an unconscionably excessive price during an international crisis affecting the oil markets.
The sponsor, Sen. Tammy Duckworth, said Tuesday one measure of “excessive” would be the price over the past 30 days.
“The President would declare this is an emergency of international effect, whether it’s a hurricane or the war in Ukraine. And then, it would make it illegal for companies to price gouge and states could then bring forward penalties at the state level against these companies of various states across the country,” Duckworth explained.
The Senator wants the Justice Department to create a task force to monitor the oil and gas markets for violations. She pointed out we’ve already seen gas stations raise prices immediately upon news about the Ukraine invasion even before the price of fuel could be affected.
Duckworth said her bill would help prevent this abuse of power and help working families keep more of their hard-earned dollars.
Related
