WASHINGTON -- U.S. Senator Claire McCaskill (D-Mo.) introduced the Future Accountability In Retail (FAIR) Fuel Act that would require the installation of automatic temperature compensating equipment in all retail gas station pumps within six years to adjust the price of gasoline as it expands due to warmer temperatures.
The act would offer assistance for retailers to comply and impose penalties for those who fail to ensure consumers are receiving the gasoline that they pay for.
The FAIR Fuel Act would:
Require installation [image-nocss] of automatic temperature compensating equipment in all retail gasoline pumps within six years of the enactment the legislation. Gives the Federal Trade Commission (FTC), working in conjunction with National Institute for Standards & Technology (NIST), authority to implement the requirement with a final rule to be promulgated no later than one year after the enactment of the legislation. Require state inspectors to determine if the equipment has been installed and report to the FTC during their annual inspections. Gives a reprieve with a followup inspection 180 days after the violation is found to first-time offenders. If on the second inspection, retailers are still found to be in violation, they will be fined $5,000 for each pump out of compliance. Establishes a grant fund for retailers, other than major integrated oil companies, who want assistance to pay for the new equipment. A retailer can receive $1,000 per pump, but no more than $10,000 per retailer.Consumer groups such as Public Citizen, Owner-Operator Independent Drives Association, Consumers Union, foundation for Taxpayer & Consumer Rights, Consumer Federation of America and U.S. Public Interest Research Groups have endorsed the legislation.
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