Congressional Leaders Eye Legislation Targeting Fuel Prices

Transport Topics By Eugene Mulero

May 4, 2022

With the traditional start of the busy summer driving season fast approaching, congressional leaders are taking aim at rising gasoline prices. High fuel prices are among the domestic economic pressure points leaders in Congress and in the Biden White House are responding to ahead of the November midterms. Following Russia’s invasion of Ukraine, several Democrats are blaming Russian President Vladimir Putin for current fuel prices. House Speaker Nancy Pelosi (D-Calif.) indicated her caucus is finalizing legislation specific to corporate manipulation of oil markets, and is also weighing legislation designed to provide incentives for motorists. However, timing on the consideration of a legislative package has yet to be announced. “Democrats are moving forward with forceful action that will stop and hold accountable oil and gas companies for profiteering and manipulating markets. This is a top priority for all of us,” Pelosi said recently. “We are confident that what we pass will be signed by the president — we think — and will be strong, tough and effective.”

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