Skip to content

Democrats’ ‘Greedflation’ Claims Run Up Against Scant Evidence

  • Some Democrats accuse companies of bilking US consumers
  • Legislation in House would target alleged gouging in gasoline
Fuel prices at a gas station in Franklin Park, New Jersey, US, on May 17.

Fuel prices at a gas station in Franklin Park, New Jersey, US, on May 17.

Photographer: Stephanie Keith/Bloomberg
Updated on

Many Democrats blame price-gouging companies for the worst surge in Americans’ cost of living in more than a generation. But economists, including several who are left-leaning, disagree.

Desperate to avoid a wipeout in November congressional elections, House Democrats passed a bill Thursday they present as a centerpiece of their response to record high gas prices. It would confer power to bar the sale of consumer fuels at “unconscionably excessive” prices.