House approves legislation to block gas price gouging

WASHINGTON (AP) — A closely divided House has approved legislation to crack down on alleged price gouging by oil companies and other energy producers as prices at the pump continue to soar.

A bill backed by House Democrats would give President Biden authority to declare an energy emergency that would make it unlawful to raise gas and home energy fuel prices in an excessive or exploitative way.

The bill directs the Federal Trade Commission to punish companies that do so. The legislation would also add a new unit at the FTC to monitor fuel markets.

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