U.S. House passes bill to fight oil and gas price gouging

WASHINGTON (Reuters) -The U.S. House passed a bill on Thursday that allows the U.S. president to issue an energy emergency declaration, making it unlawful for companies to excessively increase gasoline and home fuel prices.

The bill must pass the Senate, which is unlikely, and be signed by President Joe Biden to become law.

The legislation, sponsored by Democratic Representatives Katie Porter and Kim Schrier, passed the House 217 to 207, with no Republicans supporting it. In the Senate, evenly divided at 50 members in each party, 10 Republicans would need to support it for the bill to pass.

(Reporting by Timothy GardnerEditing by Marguerita Choy)

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