Short title

This Act may be cited as the

Lower Prices at the Pump Act

Prohibition on excessive pricing of gasoline and fuels due to conflict with Iran

(a)

Prohibition

No person may sell or offer for sale at wholesale or at retail, and during a period of time defined under subsection (b), gasoline or any other petroleum distillate at a price that— (1)is unconscionably excessive; and (2)indicates such person is taking unfair advantage of the circumstances related to such period described under subsection (b) to increase prices unreasonably. (b)

Period of time

The period of time described in this subsection begins on the date of the enactment of this Act and ends on the date on which the President, in consultation with the Speaker of the House of Representatives, the Majority Leader of the Senate, the Minority Leader of the House of Representatives, and the Minority Leader of the Senate— (1)declares that military operations against Iran which began in March 2026 have ceased indefinitely; and (2)determines and certifies to Congress that the Strait of Hormuz is fully open and global shipping through the Strait has resumed. (c)

Factors considered

In determining whether a person has violated subsection (a), the following factors shall be considered: (1)Whether the price charged by such person for the gasoline or other petroleum distillate at a particular location in the United States meets any of the following characteristics: (A)Grossly exceeds the average price at which such gasoline or other petroleum distillate was offered for sale by the person during the 30-day period prior to February 28, 2026. (B)Grossly exceeds the price at which the same or similar gasoline or other petroleum distillate was readily obtainable in such location from competing sellers during such period. (C)Reasonably reflects— (i)additional costs not within the control of the person that were paid, incurred, or reasonably anticipated by the person; or (ii)additional risks taken by the person to produce, distribute, obtain, or sell the relevant gasoline or other petroleum distillate under the circumstances. (D)Is substantially attributable to local, regional, national, or international market conditions. (2) Whether the quantity of gasoline or other petroleum distillate the person produced, distributed, or sold at a particular location in the United States increased over the quantity that the person produced, distributed, or sold during the 30-day period prior to February 28, 2026, in such location.

Enforcement

(a)

Enforcement by Commission

(1)

Unfair or deceptive acts or practices

A violation of section 2(a) shall be treated as a violation of a regulation under section 18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)) regarding unfair or deceptive acts or practices. (2)

Powers of Commission

The Commission shall enforce section 2(a) in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act (15 U.S.C. 41 et seq.) were incorporated into and made a part of this Act, and any person who violates such section shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act. (b)

Actions by States

(1)

In general

In any case in which the attorney general of a State government, or an official or agency of a State, has reason to believe that an interest of the residents of such State has been or is threatened or adversely affected by an act or practice in violation of section 2(a), the State, as parens patriae, may bring a civil action on behalf of the residents of the State in an appropriate district court of the United States to— (A) enjoin such act or practice; (B) enforce compliance with such section; (C) obtain damages, restitution, or other compensation on behalf of residents of the State; or (D) obtain such other legal and equitable relief as the court may consider to be appropriate. (2)

Notice

Before filing an action under this subsection, the attorney general, official, or agency of the State involved shall provide to the Commission a written notice of such action and a copy of the complaint for such action. If the attorney general, official, or agency determines that it is not feasible to provide the notice described in this paragraph before the filing of the action, the attorney general, official, or agency shall provide written notice of the action and a copy of the complaint to the Commission immediately upon the filing of the action. (3)

Authority of Commission

(A)

In general

On receiving notice under paragraph (2) of an action under this subsection, the Commission shall have the right— (i)to intervene in the action; (ii)upon so intervening, to be heard on all matters arising therein; and (iii)to file petitions for appeal. (B)

Limitation on State action while Federal action is pending

If the Commission or the Attorney General of the United States has instituted a civil action for violation of section 2(a) (referred to in this subparagraph as the Federal action), no State attorney general, official, or agency may bring an action under this subsection during the pendency of the Federal action against any defendant named in the complaint in the Federal action for any violation of such section alleged in such complaint. (4)

Rule of construction

For purposes of bringing a civil action under this subsection, nothing in this Act shall be construed to prevent an attorney general, official, or agency of a State from exercising the powers conferred on the attorney general, official, or agency by the laws of such State to conduct investigations, administer oaths and affirmations, or compel the attendance of witnesses or the production of documentary and other evidence. (c)

Criminal penalties

(1)

In general

In addition to any other penalty applicable under this section, any person who violates section 2 shall be fined under title 18, United States Code, in an amount not to exceed $500,000,000. (2)

Enforcement

The criminal penalty provided by paragraph (1) may be imposed only pursuant to a criminal action brought by the Attorney General or other officer of the Department of Justice. The Attorney General shall give priority to enforcement actions concerning companies with total United States wholesale or retail sales of gasoline and other petroleum distillates in excess of $10,000,000,000 per year. (d)

Deposit of funds

Amounts collected in any penalty under this section shall be deposited in a separate fund in the Treasury to be known as the Consumer Relief Trust Fund. (e)

Use of funds

The amounts deposited into the fund described in subsection (d) shall be used to provide assistance under the Low Income Home Energy Assistance Program described in section 2602 of the Low-Income Home Energy Assistance Act of 1981 (42 U.S.C. 8621) administered by the Secretary of Health and Human Services and the Weatherization Assistance Program established under part A of title IV of the Energy Conservation and Production Act (42 U.S.C. 6861 et seq.) administered by the Secretary of Energy.

Definitions

In this Act: (1)

Commission

The term Commission means the Federal Trade Commission. (2)

Retail

The term retail, with respect to the sale of gasoline or any other petroleum distillate, includes— (A)any sale to an end user, such as a motorist; and (B)any direct sale to another end user, such as agriculture, industry, residential, and commercial consumers. (3)

Wholesale

The term wholesale, with respect to the sale of gasoline or any other petroleum distillate, means— (A)truckload or smaller sales of gasoline or other petroleum distillates for which title transfers at a product terminal or a refinery; and (B)dealer tank wagon sales of gasoline or other petroleum distillates priced on a delivered basis to retail outlets.

Effect on other laws

(a)

Other authority of Commission

Nothing in this Act may be construed to limit or affect in any way the authority of the Commission to bring an enforcement action or take any other measure under the Federal Trade Commission Act (15 U.S.C. 41 et seq.) or any other provision of law. (b)

State law

Nothing in this Act may be construed to preempt any State law.