Bart Stupak: “Yesterday we had a hearing on gas price gouging, and the Commissioner of the Federal Trade Commission actually came and…”

“Yesterday we had a hearing on gas price gouging, and the Commissioner of the Federal Trade Commission actually came and testified. On page 12 of his testimony, footnote number 24, I would like to quote the following: The statute mandating post-Katrina price investigation effectively defined price gouging as an average price of gasoline available for sale to the public that exceeded its average price in the area for the month before the event, unless the increase was substantially attributable to additional costs in connection with production, transportation, delivery and sale of gasoline in that area, or to national or international markets. When questioned yesterday, Commissioner Kovacic said, We've used it. We have the definition. My legislation makes it clear to take these factors into consideration when you determine whether price gouging is going on: How much did it cost delivered at transportation? What was the bill of sale from the supplier. These are factors in the legislation. The FTC clearly understands it. Members of the House should be able to understand it. Vote ``yes'' on H.R. 1252.”