Requires the Federal Trade Commission (FTC) to investigate the retail price of gasoline in a state in which the average price of regular grade gasoline has increased 20 percent or more for at least seven days during any three-month period in order to determine if the price is being artificially manipulated by reducing refinery capacity or by any other form of manipulation.
Requires the FTC to: (1) report to Congress within 30 days after initiating an investigation; and (2) present investigation results, within 14 days after reporting to Congress, at a public hearing in the state in which the retail price of gasoline was investigated.
Requires the FTC, in cooperation with the Attorney General of the relevant state, to take appropriate action if it determines that the increase in gasoline prices in a state is a result of market manipulation.
Introduced in Senate
Read twice and referred to the Committee on Commerce, Science, and Transportation.
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