Time to pump the brakes on Pa. gas price hikes
Pain at the pump is very real across Pennsylvania — it’s costing us all more to commute, run errands or take a summer vacation. There are a lot of factors driving gas prices higher and higher — but the one that Pennsylvania House Democrats won’t stand for is greed.
Let’s first throw it in reverse and look at how we got here. Republican leaders in the House and Senate teamed up with Republican Gov. Tom Corbett in 2013, passing legislation to increase gas taxes over the following years. This didn’t hit gas prices too hard — yet. Then the COVID-19 pandemic hit.
Worldwide demand for gas and diesel plummeted as people stayed home, factories idled, and everyone tried to figure out what comes next. As we found our footing in the pandemic, and started taking to the roads more and more, demand started to increase. Demand increases, the price at the pump goes up. But we’re not at the big price increases just yet. Then Vladimir Putin invades Ukraine.
More:Gas prices surge again to record high but the driver is refineries, not oil prices
This act alone sends oil prices worldwide into chaos. The price at the pump in every single country rises and rises. Meanwhile, the big oil companies slide right in, using war, pandemic shortages or their failure to invest in their own refineries as a cover to raise the price of gas through the roof. They shrug and say “inflation!” while taking in record profits. Exxon Mobil doubled their profits from this time last year to nearly $5.5 billion — and that’s just the first quarter. Chevron made $6.1 billion. Shell pocketed $9 billion just this year alone. It doesn’t sound like they’re dealing with increased costs like you and I, does it?
More:As gas prices soared, Exxon Mobil doubled profits from last year to $5.48 billion
In Pennsylvania there isn’t much we can do to address the global factors that push prices higher — but we can pump the brakes on rapid, excessive "because we can" price hikes. Other states have capped out-of-control price increases and Pennsylvania must do the same. This is why we are introducing legislation that will prevent price increases more than once every 24 hours, limit price increases in an emergency, and empower the state attorney general to investigate gas price gouging.
Pennsylvania won’t tolerate the greed of big oil companies. Pennsylvania House Democrats stand with families, small businesses and everyone else being taken advantage of. Record low unemployment and record high economic growth means you have other things to spend your money on — and excessively high gas prices shouldn’t be one of them.
Preying on Pennsylvanians at the pump in a time of economic crisis is unfair and we are calling on our colleagues to join us and stop this highway robbery.
Rep. Ryan Bizzarro, of Erie, D-3rd Dist., is chairman of the House Democratic Policy Committee.
This article originally appeared on Erie Times-News: Rep. Bizzarro bill aims to stop Pennsylvania gas price gouging
