The U.S. House of Representatives responded Wednesday to constituent outrage at the record-high cost of gasoline by approving legislation to combat price gouging, sparking a veto threat from the White House.

A day earlier, the House approved legislation that would give the United States more leverage in dealing with the Organization of Petroleum Exporting Countries, as lawmakers work on a problem they say rivals Iraq as the nation’s top concern.

“Every time the price of gas goes up 10 cents, another $14 billion is transferred from the American people to big oil companies,” said Rep. Bart Stupak, D-Mich., during a news conference at a Massachusetts Avenue Exxon that charged $3.19 per gallon.

According to AAA, the national average price for a gallon of unleaded was $3.22 Wednesday, a record high and 37 cents higher than a month ago. The D.C. area’s average price also reached $3.22 Wednesday, but that is not a record for the region.

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Stupak’s price-gouging bill would authorize the Federal Trade Commission to investigate all aspects of oil companies’ pricing structures and impose stiff fines and prison sentences on corporations and executives violating the law. The FTC would define what constitutes gouging, but the president would have to declare a state of emergency for the restrictions to take effect.

“I believe the political pressure from this bill will force the president to declare a state of emergency and will force the oil companies to bring prices down,” Stupak said.

The White House sent a statement to lawmakers warning that the bill, which passed by a veto-proof 284-141 margin, would lead to price controls and gas shortages.

The Senate is scheduled to vote on a bill similar to Stupak’s in June. Another measure pending in the Senate would heavily tax oil company profits and eliminate several industry tax breaks.

“This [price] escalation, which has provided an unearned windfall for big oil companies, hits the consumer hard,” U.S. Sen. Jim Webb,

D-Va., said when the measure was introduced last month.

jrogalsky@dcexaminer.com