NJ charges gas stations and hotel for gouging.

[NIKV69]

http://www.nbcnews.com/business/n-j-charges-8-merchants-gouging-after-sandy-1C6972582

Hope that increase was worth it. I hope NY follows suit. I have a station near me that raised prices .30 a gallon.

[Zee71]

One can only hope!

[threeholerglory]

I thought I read somewhere that the stations are allowed to increase prices 10-15% a week? I could be wrong

[NIKV69]

I thought I read somewhere that the stations are allowed to increase prices 10-15% a week? I could be wrong

I'm not sure but when a state of emergency is declared I think the ground rules change.

[PhilDernerJr]

I know for a fact prices around here shot up at least 30-40 cents within the first few days.

[NIKV69]

I know for a fact prices around here shot up at least 30-40 cents within the first few days.

We only had one do that, I reported them. That is BS!

[gonzalu]

The supply company should also be investigated in case they too charged the station higher prices, especially if they delivered fuel from one of the US Military or Aviation depots!!!

[NIKV69]

The supply company should also be investigated in case they too charged the station higher prices, especially if they delivered fuel from one of the US Military or Aviation depots!!!

Wasn't Hess selling to competitors? My dad saw the tanker going down the road after he dropped off a load at my local Hess to the station that was gouging. I know Hess wouldn't gouge at the supply level in an emergency. Boy I hope this station near me gets fined up the arse!

[gonzalu]

Fuel Brands on the side of trucks and gas stations are just for show. Fuel is usually refined and final production done at a handful of refineries. Brands only serve to play with people's needs for marketing. Most of the time the fuel at BP is the same at Sunoco or Amoco or Mobile or Exxon. Regularly do I see a Sunoco truck at a BP station... that's normal :-)

[Matt Molnar]

Is it really gouging if the supply really is down? Something like 75% of gas stations in the area simply don't have any gas because of the refinery outages. Why shouldn't the price go up?

[Mattimus]

Is it really gouging if the supply really is down? Something like 75% of gas stations in the area simply don't have any gas because of the refinery outages. Why shouldn't the price go up?

Exactly, basic economics, totally makes sense for it to go up a little bit, if they went and raised to like $10/gallon or something crazy then yeah they should probably be sued for gouging.

[gonzalu]

Well, it isn't due to normal market conditions but because of a natural disaster... not the same as if refineries went out of business and supply dropped ... I think it is different when a natural disaster upsets operations.

[Whitese]

following supply and demand doesnt make that much sense anymore....Speculation is what is killing the capitalist system and free markets. There are many commodities that even when in high supply, are in high demand, and they still raise the prices, with the excuse that demand is high..The basic idea of capitalism was that the more you sell, the cheaper the product is. But greed steps in and overrides everything.

If supply is low, its low for everyone. At some point, could it be that only the rich would have been able to afford gas?