Prohibition on price gouging during U.S.–Israel–Iran war energy emergency

(a) Unlawful conduct During any designated U.S.–Israel–Iran war energy emergency period, it shall be an unfair or deceptive act or practice under the Federal Trade Commission Act for any covered entity to sell or offer for sale covered goods at a price that— (1) represents a grossly excessive increase over the average price of such goods during the 60-day period preceding the date of enactment of this Act; and (2) Is not substantially attributable to additional costs incurred, or reasonably anticipated to be incurred, by the covered entity in connection with the production, distribution, or sale of such goods, including costs reasonably attributable to the U.S Israel–Iran conflict. (b) Covered entities The term covered entity means any person, partnership, corporation, or other business entity engaged in the wholesale or retail sale of— (1) motor fuel, diesel, or other transportation fuels; (2) home heating fuels, including natural gas, heating oil, and electricity; or (3) essential consumer staples, including food and basic household necessities, as defined by the Federal Trade Commission. (c) Covered goods The term covered goods means any good described in subsection (b).