Lower Prices at the Pump Act

On May 7, 2026, Representative McDonald Rivet (D-MI) introduced HR8698, the Lower Prices at the Pump Act. The bill was referred to the Committee on Energy and Commerce and the Committee on Education and Workforce. It is in the earliest legislative stage with only one cosponsor and no committee hearings or markups scheduled. The bill prohibits selling gasoline or petroleum distillates at an 'unconscionably excessive' price during a period defined by the ongoing military operations against Iran, ending when the President certifies the Strait of Hormuz is fully open. The prohibition applies to wholesale and retail sales. The bill does not authorize any federal spending, create a new regulatory agency, or establish a funding mechanism. It relies on existing enforcement through the Federal Trade Commission or state attorneys general. Given the procedural stage, lack of bipartisan support, and absence of a funding mechanism, the probability of passage in the current Congress is low. The bill's impact on energy companies is negligible at this stage. No tickers are affected because the causal chain from introduction to market impact is too speculative.