FORT WAYNE, Ind. -- Indiana’s attorney general believes that petroleum marketers should pay a higher price for capitalizing on public panic during a national crisis, and he was in Fort Wayne recently to push for higher price-gouging fines, reports the News-Sentinel.
AG Steve Carter said he supports legislation that would fine gasoline retailers up to $1,000 per transaction for selling fuel at prices that grossly exceed ordinary market factors. Current price gouging laws levy $500 fines and do not specifically mention gasoline prices, he said.
Need for the new law became evident when gasoline prices spiked to more than $2.50 a gallon at some stations following the September 11 terrorist attacks, Carter said.
In late September, Carter said that a total of 132 stations in the state were accused of gouging. His probe targeted locations accused of raising prices for regular unleaded gasoline to $2.50 per gallon or higher. Thirty of the 132 have been cleared, and 52 have admitted that prices were raised to $2.50 or higher, Carter said in a statement then. Some stations indicated that they would provide refunds to customers.
“I am pleased that our immediate attention to this situation resulted in refunds for some customers and helped to stabilize prices within the first hours of excessive pricing reports; however, [excessive pricing] following a national tragedy is not acceptable, and I still reserve the right to take further action,” Carter said at the time.
