(May 23, 2007)--As gas prices continue to skyrocket, the House of Representatives Wednesday approved tough new penalties for anyone found guilty of gasoline price gouging.

Approved by a vote of 284-141, the bill directs the Justice Department and the Federal Trade Commission to go after anyone from gas station operators all the way to oil companies to take unfair advantage or charge “unconscionably excessive" prices for fuel.

But the bill may not get any further

The White House calls the measure a form of price control and that if signed into law, could result in gas and oil shortages.

White House officials say President Bush would be urged to veto the bill.

Meanwhile Wednesday Federal Trade Commission analyst Michael Salinger blamed high gas prices on increased demand, refinery snags and a recent drop in gasoline imports.

The American Automobile Association said the national average for a gallon of regular unleaded rose to $3.22 Wednesday, reaching a new high.

Around Texas Wednesday afternoon, prices ranged from as little as $2.84 a gallon at a station in Beaumont to as much as $3.50 a gallon at a station in Perryton, according to Texasgasprices.com

But in parts of the country prices have soared above $4.

In the Colorado ski resort of Aspen; the price at one station was $4.09 a gallon Tuesday.

One driver said that was simply “crazy.”

Click Here For TexasGasPrices.Com Web Site

More Local And State News >>More National News >>More Business News >>Sports >> Weather >>