The U.S. president would have the authority to declare an emergency that would make the sale of gasoline at “excessive” prices illegal under legislation House Democrats plan to bring to the floor next week.
Retail gasoline and diesel prices rallied to a record just ahead of the nation’s summer driving season, a challenge for President Joe Biden and the Federal Reserve as they face the fastest inflation in decades.
Gasoline pump prices in the U.S. are rising to within a hair of an all-time record three weeks ahead of the peak driving season.
Experts worry that a continuing rise in diesel costs will affect prices at your local grocery store, on top of the inflation that has already caused prices to soar. And currently that pain is particularly acute in New England, where diesel prices have vaulted past the $6-a-gallon mark.
WASHINGTON — Citing growing worries about high gasoline prices, Democratic leaders announced an effort April 28 to give the Federal Trade Commission increased authority to crack down on companies that engage in price gouging.
Amazon.com Inc. will charge businesses that sell products on its website a 5% fuel and inflation fee beginning April 28, according to documents reviewed by Bloomberg, a first for the company.
Congressional Democrats excoriated executives from some of the world’s biggest oil companies on April 6, accusing them of exploiting the war in Ukraine and a surge in crude prices to secure windfall profits at the expense of American motorists.April 6, 2022
Visa Inc. and Mastercard Inc. are planning a raft of changes to rules for gas stations to allow larger transactions after a surge in fuel prices across the U.S. made it hard for some drivers to fill up using credit cards.
Executives from major oil companies will participate in a House Energy and Commerce Committee hearing next week on skyrocketing gasoline prices, but another House panel didn't have as much success getting witnesses to agree to appear.