This bill creates a federal law to stop gas stations and fuel sellers from charging unfairly high prices during a specific crisis period. The law applies starting immediately after it's signed and continues until the President declares that military operations against Iran (which began in March 2026) have ended and confirms that the Strait of Hormuz is fully open for global shipping again.

The bill prohibits sellers from charging "unconscionably excessive" prices that take unfair advantage of the current situation. To determine if a price is illegal, regulators will look at whether the price is much higher than what the same seller charged in the 30 days before February 28, 2026, or much higher than competitors are charging in the same area. However, sellers can justify higher prices if they're caused by increased costs they can't control, additional risks they're taking, or broader market conditions. The law applies to both gas stations selling to individual drivers and to wholesale fuel sales between companies.

Enforcement falls to the Federal Trade Commission, state attorneys general, and the U.S. Department of Justice. Companies that violate the law can face civil lawsuits, be forced to pay damages to consumers, and face criminal fines up to $500 million. Any money collected from penalties goes into a special fund to help low-income families pay heating and cooling bills and to improve home energy efficiency.