Prevent Unfair Manipulation of Prices Act of 2006

H.R. 5248, the Prevent Unfair Manipulation of Prices Act of 2006, was designed to increase federal oversight of energy markets to prevent artificial price spikes in commodities like oil and gasoline. The bill would have granted the Commodity Futures Trading Commission (CFTC) greater authority to monitor electronic and over-the-counter energy trades that were previously exempt from certain regulations. By requiring stricter recordkeeping and imposing harsher penalties for price manipulation, the legislation aimed to ensure that energy prices were determined by supply and demand rather than fraudulent trading practices. For the average citizen, these measures were intended to provide greater transparency in energy markets and protect consumers from inflated costs at the pump and in home heating.