Summary of Bill: S.4352 (119th Congress) – Fair and Transparent Gas Prices Act of 2026

Purpose

• To authorize and direct the Federal Trade Commission (FTC) to conduct a comprehensive study of conduct related to oil and gas prices.
• The bill aims to identify anti-competitive, collusive, or other practices in oil and gas markets and to assess how such conduct affects consumer prices, fuel supply, and the availability of alternative fuels or vehicle technologies.
• It requires annual reporting to Congress with findings and policy recommendations to promote fair, competitive, and transparent energy markets.

Key Provisions

Section 2 — FTC Study on Conduct Related to Oil and Gas Prices

• The FTC, in coordination with appropriate state attorneys general, must conduct a study under its authority (section 6(b) of the FTC Act) to investigate:
  • Anti-competitive, collusive, or other conduct in oil and gas markets.
  • The actual prices paid by consumers for oil and gas.
• The study must analyze whether oil and gas companies:
  • Use financial resources in ways that do not expand or increase fuel supply (e.g., reducing investments in production, engaging in stock buybacks, or similar conduct).
  • Could cause outcomes such as inflated costs or price gouging, delays in increasing fuel supply, or adverse impacts on investment decisions that would raise fuel supply.
  • Could restrict the availability, accessibility, or affordability of alternative fuels or vehicle technologies.

Section 2 — Reporting Requirements

• The FTC must provide:
  • An initial report within 1 year after enactment, and annual reports for the following two years.
  • Each report should include results of the study and recommendations for legislation and administrative actions to ensure fair, competitive, and transparent oil and gas costs and markets.
• The reports must be submitted to the following committees (defined as “appropriate committees of Congress”):
  • Senate Committee on Commerce, Science, and Transportation
  • Senate Committee on Energy and Natural Resources
  • House Committee on Energy and Commerce
  • House and Senate Appropriations Subcommittees on Financial Services and General Government

Section 2 — Inapplicability of Paperwork Reduction Act

• The Paperwork Reduction Act does not apply to information collection conducted under subsection (a).

Section 2 — Additional FTC Resources (Funding and Personnel)

• The FTC may appoint up to 50 additional personnel, beyond normal civil service limits, as needed to conduct the study and prepare reports.
• Authorized appropriations: $15,000,000 for each of fiscal years 2027 and 2028 to carry out this section.

Scope and Focus

• Emphasizes transparency and consumer protection in energy markets.
• Targets potential anti-competitive behaviors and market dynamics affecting prices, supply, and the adoption of alternative fuels or technologies.
• Does not enact new market regulations or price controls directly; instead, it mandates an FTC-led study and subsequent recommendations to Congress.

Timeline

• Enactment date: 2026 (assumed upon passage).
• Initial FTC study and report due within 12 months of enactment.
• Subsequent annual reports due for two additional years (years 2 and 3 after enactment).

Who/What is Affected

• Federal Trade Commission (primary federal agency involved).
• State attorneys general (in coordination for the study as appropriate).
• Oil and gas producers and markets (subject to analysis for anti-competitive or anti-consumer practices).
• Consumers (indirectly affected through potential policy actions and market reforms recommended by the FTC).
• Congress (receives annual reports with findings and recommendations).
• Budgetary resources: $15 million per year for 2027 and 2028 to support the FTC’s study activities.

Practical Implications

• The bill does not impose immediate regulatory changes but could lead to policy actions or legislation based on FTC findings.
• The expanded FTC authority and funding signal a heightened federal focus on examining whether market dynamics and corporate practices influence oil and gas pricing and supply.
• By exempting information collection from the Paperwork Reduction Act, the act facilitates data gathering for the study.