Federal Price Gouging Prevention Act

This bill prohibits unfair price hikes on gasoline and petroleum products during declared emergencies. It makes it illegal for retailers or distributors to charge "unconscionably excessive" prices - such as prices grossly above pre-crisis averages or competitors’ rates - when the President declares a domestic or international oil market crisis affecting specific areas. The Federal Trade Commission (FTC) enforces the law, prioritizing large companies with over $10 billion in annual sales, and can impose civil penalties up to $100 million per violation. States may also sue retailers for violations affecting residents, though the FTC must be notified first.