PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Energy and Air Quality.
Congressional Research Service
Version 00 · Introduced in House · Jun 16, 2005
Gross Overcharging Undermines Gasoline Economics Act - Prohibits retail sales of gasoline for a price that exceeds the base price index multiplied by twice the rate of inflation, as adjusted according to a certain regional price structure index.
Instructs the Secretary of Energy to: (1) develop a regional price structure index to reflect regional variances in gasoline reformulation requirements and transportation costs; and (2) assess a civil penalty for a violation of this Act.
Directs the Federal Trade Commission to report annually to Congress on: (1) passive and active collusion to set gasoline prices;(2) antitrust practices throughout all supply chains in the oil industry; and (3) recommendations to protect consumers against gasoline price gouging.
Showing the opening paragraphs of the official summary.
Prohibits the Secretary from acquiring new petroleum products for, or placing any petroleum products in, the Strategic Petroleum Reserve (SPR).
Directs the Secretary to release from the SPR one million barrels of oil per day.
Establishes the Pricing and Economic Impact Commission to report to Congress on the effect of this Act upon: (1) domestic oil production; (2) foreign oil imports; (3) profits of the oil industry; (4) inflation; (5) employment; (6) economic growth; (7) federal revenues; and (8) national security.
People & committees
Rep. Hastings, Alcee L. [D-FL-23] · D–FL
Legislative record
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Referred to the Subcommittee on Energy and Air Quality.
Sponsor introductory remarks on measure. (CR E1262-1263)
Referred to the House Committee on Energy and Commerce.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.
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