S. 4217 · 117th Congress
Transportation Fuel Market Transparency Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CantwellSponsor3 cosponsors · 3 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill expands prohibitions against manipulating fuel markets, establishes a body within the Federal Trade Commission (FTC) to monitor fuel markets to ensure competitiveness, and addresses related issues.
What it does: CRS summary · Introduced in Senate · May 12, 2022
Transportation Fuel Market Transparency Act
This bill expands prohibitions against manipulating fuel markets, establishes a body within the Federal Trade Commission (FTC) to monitor fuel markets to ensure competitiveness, and addresses related issues.
Prohibitions against the manipulation of wholesale fuel markets or reporting false (or misleading) information shall apply to actions related to crude oil and transportation fuel, defined in this bill to include gasoline, distillate fuels, jet fuel, aviation gasoline, and biofuel. Currently, such prohibitions only apply to crude oil, gasoline, and petroleum distillates.
The bill further expands the prohibition on reporting false information to include such information that (1) concerns the supply of, operational actions related to, or output related to wholesale fuel markets; (2) is not required to be reported by law; or (3) affects the analyses or data compiled by a private sector price-reporting agency.
The bill also increases the maximum civil penalty for violating these prohibitions from $1 million to $2 million for each day of the violation.
Furthermore, the bill establishes within the FTC the Transportation Fuel Monitoring and Enforcement Unit. The unit must continuously and comprehensively collect and analyze fuel market data to support competitive market practices, identify market manipulation and other unfair methods of competition, and facilitate enforcement of competition-related statutes.
The Energy Information Administration within the Department of Energy must collect data to facilitate transparent and competitive transportation fuel markets, determine adherence to sanctions, and protect consumers.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Transportation Fuel Market Transparency Act
Latest action (Jun 22, 2022): Committee on Banking, Housing, and Urban Affairs. Hearings held.
Policy area: Energy · Origin: Senate · Introduced: May 12, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.