SEC. 603. PROHIBITION ON PRICE GOUGING DURING ENERGY EMERGENCIES.
(a) In General- During any energy emergency declared by the President under section 606 of this Act, it is unlawful for any supplier to sell, or offer to sell crude oil, gasoline or petroleum distillates subject to that declaration in, or for use in, the area to which that declaration applies at an unconscionably excessive price.
(b) Factors Considered- In determining whether a violation of subsection (a) has occurred, there shall be taken into account, among other factors, whether–
(1) the price charged was a price that would reasonably exist in a competitive and freely functioning market; and
(2) the amount of gasoline or other petroleum distillate the seller produced, distributed, or sold during the period the Proclamation was in effect increased over the average amount during the preceding 30 days.
Government control of gas prices? Yeah, that’ll end well.
