Whereas the retail price of motor fuels reportedly rose by as much as 300 percent in several locations in the United States during the hours and days after the terrorist acts of September... (Engrossed in House )

HRES 238 EH

H. Res. 238

In the House of Representatives, U.S.,

September 14, 2001.

Whereas the retail price of motor fuels reportedly rose by as much as 300 percent in several locations in the United States during the hours and days after the terrorist acts of September 11, 2001;

Whereas reliable reports suggest that the inventory of motor fuels in the United States was adequate during that period;

Whereas no significant disruptions in the availability of motor fuels were reported as a result of the terrorist acts of September 11, 2001;

Whereas several of the Nation's oil companies pledged to hold their fuel prices steady during the period immediately following the terrorist acts;

Whereas the Organization of Petroleum Exporting Countries (OPEC) has announced that all of its member countries `remain committed to continuing their policy of strengthening market stability and ensuring that sufficient supplies are available to satisfy market needs' and `are prepared to use their spare capacity, if deemed necessary, to achieve those goals';

Whereas some vendors of motor fuels in the United States may have taken advantage of the uncertainty created by the terrorist acts of September 11, 2001, by knowingly charging in excess of a reasonable price for motor fuels, a practice commonly known as `price gouging'; and

Whereas price gouging is detrimental to consumer confidence and the economy of the United States, and was particularly detrimental during the hours and days after the terrorist acts of September 11, 2001: Now, therefore, be it

Resolved, That the House of Representatives--

(1) condemns any price gouging with respect to motor fuels during the hours and days after the terrorist acts of September 11, 2001; and

(2) urges the appropriate Federal and State agencies to investigate any incidents of price gouging with respect to motor fuels during the hours and days after the terrorist acts of September 11, 2001, and to prosecute any violations of law discovered as a result of the investigations.

Attest:

Clerk.