Lower Prices at the Pump Act

This legislation, known as the "Lower Prices at the Pump Act," aims to protect consumers by prohibiting excessive pricing of gasoline and other petroleum distillates. The prohibition applies to both wholesale and retail sales during a specific period. This period begins upon the Act's enactment and concludes when the President certifies that military operations against Iran, which commenced in March 2026, have ceased indefinitely, and the Strait of Hormuz is fully open with global shipping resumed. To determine if a price is unconscionably excessive, factors considered include whether the price grossly exceeds the average price from the 30-day period prior to February 28, 2026, or prices from competing sellers. However, prices are not considered excessive if they reasonably reflect additional costs, risks, or are substantially attributable to local, regional, national, or international market conditions. Enforcement of the Act is multifaceted. Violations are treated as unfair or deceptive acts under the Federal Trade Commission Act, granting the Federal Trade Commission (FTC) authority to enforce the provisions. Additionally, State Attorneys General can initiate civil actions on behalf of their residents to seek injunctions, damages, or other relief, provided they notify the FTC. The bill also establishes criminal penalties , allowing for fines up to $500,000,000 through actions brought by the Attorney General, with priority given to large companies. Funds collected from these penalties are to be deposited into a dedicated Consumer Relief Trust Fund. These funds are then allocated to support the Low Income Home Energy Assistance Program (LIHEAP) and the Weatherization Assistance Program, providing crucial aid to vulnerable populations.