(d) FEDERAL AGENCY CONSIDERATION.—Upon re-
ceipt of the report required by subsection (c), the Attorney 
General or the Chairman of the Federal Trade Commis-
sion, as appropriate, shall consider whether any additional 
action is required to restore competition or prevent a sub-
stantial lessening of competition occurring as a result of 
any transaction that was the subject of the study con-
ducted under subsection (b). 
SEC. 205. JOINT FEDERAL AND STATE TASK FORCE. 
The Attorney General and the Chairman of the Fed-
eral Trade Commission shall establish a joint Federal- 
State task force, which shall include the attorney general 
of any State that chooses to participate, to investigate in-
formation sharing (including through the use of exchange 
agreements and commercial information services) among 
persons in the business of exploring for, producing, refin-
ing, or otherwise processing, storing, marketing, selling, 
or otherwise making available petroleum, gasoline or other 
fuel derived from petroleum, or natural gas (including any 
person about which the Energy Information Administra-
tion collects financial and operating data as part of its 
Financial Reporting System). 
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TITLE III—PREVENTION OF 
PRICE GOUGING 
SEC. 301. SHORT TITLE. 
This title may be cited as the ‘‘Federal Price Gouging 
Prevention Act’’. 
SEC. 302. UNCONSCIONABLE PRICING OF GASOLINE AND 
OTHER PETROLEUM DISTILLATES DURING 
EMERGENCIES. 
(a) UNCONSCIONABLE PRICING.— 
(1) IN GENERAL.—It shall be unlawful for any 
person to sell, at wholesale or at retail in an area 
and during a period of an international crisis affect-
ing the oil markets proclaimed under paragraph (2), 
gasoline or any other petroleum distillate covered by 
a proclamation issued under paragraph (2) at a 
price that— 
(A) is unconscionably excessive; and 
(B) indicates the seller is taking unfair ad-
vantage of the circumstances related to an 
international crisis to increase prices unreason-
ably. 
(2) ENERGY EMERGENCY PROCLAMATION.— 
(A) IN
GENERAL.—The President may 
issue a proclamation of an international crisis 
affecting the oil markets and may designate any 
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area within the jurisdiction of the United 
States, where the prohibition in paragraph (1) 
shall apply. The proclamation shall state the ge-
ographic area covered, the gasoline or other pe-
troleum distillate covered, and the time period 
that such proclamation shall be in effect. 
(B) DURATION.—The proclamation— 
(i) may not apply for a period of more 
than 30 consecutive days, but may be re-
newed for such consecutive periods, each 
not to exceed 30 days, as the President de-
termines appropriate; and 
(ii) may include a period of time not 
to exceed 1 week preceding a reasonably 
foreseeable emergency. 
(3) FACTORS
CONSIDERED.—In determining 
whether a person has violated paragraph (1), there 
shall be taken into account, among other factors— 
(A) whether the amount charged by such 
person for the applicable gasoline or other pe-
troleum distillate at a particular location in an 
area covered by a proclamation issued under 
paragraph (2) during the period such proclama-
tion is in effect— 
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(i) grossly exceeds the average price 
at which the applicable gasoline or other 
petroleum distillate was offered for sale by 
that person during the 30 days prior to 
such proclamation; 
(ii) grossly exceeds the price at which 
the same or similar gasoline or other pe-
troleum distillate was readily obtainable in 
the same area from other competing sellers 
during the same period; 
(iii) reasonably reflected additional 
costs, not within the control of that person, 
that were paid, incurred, or reasonably an-
ticipated by that person, or reflected addi-
tional risks taken by that person to 
produce, distribute, obtain, or sell such 
product under the circumstances; and 
(iv) was substantially attributable to 
local, regional, national, or international 
market conditions; and 
(B) whether the quantity of gasoline or 
other petroleum distillate the person produced, 
distributed, or sold in an area covered by a 
proclamation issued under paragraph (2) dur-
ing a 30-day period following the issuance of 
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such proclamation increased over the quantity 
that that person produced, distributed, or sold 
during the 30 days prior to such proclamation, 
taking into account usual seasonal demand vari-
ations. 
(b) DEFINITIONS.—As used in this section— 
(1) the term ‘‘wholesale’’, with respect to sales 
of gasoline or other petroleum distillates, means ei-
ther truckload or smaller sales of gasoline or petro-
leum distillates where title transfers at a product 
terminal or a refinery, and dealer tank wagon sales 
of gasoline or petroleum distillates priced on a deliv-
ered basis to retail outlets; and 
(2) the term ‘‘retail’’, with respect to sales of 
gasoline or other petroleum distillates, includes all 
sales to end users such as motorists as well as all 
direct sales to other end users such as agriculture, 
industry, residential, and commercial consumers. 
SEC. 303. ENFORCEMENT BY THE FEDERAL TRADE COM-
MISSION. 
(a) ENFORCEMENT BY FTC.—A violation of section 
302 shall be treated as a violation of a rule defining an 
unfair or deceptive act or practice prescribed under section 
18(a)(1)(B) of the Federal Trade Commission Act (15 
U.S.C. 57a(a)(1)(B)). The Federal Trade Commission 
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