Release: Khanna Introduces Legislation to Bring Down Gas Prices for Americans

Press Release

Today, Representative Ro Khanna (D-CA) unveiled legislation to temporarily stop the export of gasoline produced in the United States to combat high gas prices and help Americans struggling. The bill would prohibit the export of refined gasoline during periods when gas prices are high, characterized as any day on which the average price for gasoline in the United States has been equal to or higher than $3.12 per gallon for each of the preceding 7 days. It only includes refined gasoline, not diesel fuel, to protect our European allies.

The price of oil is significantly affected by the Organization of the Petroleum Exporting Countries (OPEC). The Saudi-led OPEC is purposefully manipulating gas prices through drastic cuts to oil production so that it will not meet the increased demand. A ban on gasoline exports will boost domestic supply and reduce prices for American families.

Khanna's legislation comes in light of record profits reported by Big Oil this week and on the heels of reporting that the White House is considering their own ban on exports of gasoline.

"While Big Oil is reporting obscene profits this week, American families are struggling to afford gas at the pump. These companies should not be allowed to profit by exporting gas to other countries while we struggle with increased prices here at home," said Rep. Khanna. "My bill will temporarily restrict exports as long as prices are above the average price in 2019."

"The fossil fuel industry is making obscene profits and will continue this profiteering at the pump by prioritizing gasoline exports while supplies are tight," said Wenonah Hauter, Executive Director of Food & Water Watch. "This is highly profitable for them, and absolutely disastrous for American families struggling with sky high inflation. This smart legislation to halt gasoline exports will provide quick, substantial relief for American families. Congress and President Biden should get behind the Gasoline export Ban Act immediately."

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