North Carolina Gas Prices – North Carolina gas prices soar on Friday as refineries and pipelines are shut down for hurricane Ike – Govorner Easley activates anti-gouging law.
As NC gas prices jump over $.50 per gallon in a matter of hours, many NC citizens are wondering what the state’s definition of gouging is.
Cities across the state had lines at the gas pumps by about 2:00 pm due to rumors of gas shortages and spiking prices.
Easley said wholesale prices were up less than 20 cents a gallon and consumers shouldn’t see prices rise substantially more than the wholesale increase. North Carolina Attorney General Roy Cooper said Friday the law applies to all levels of the fuel supply chain. Cooper said his office is ready to take consumer complaints.
NC drivers are feeling pain at the pump and rumors are swirling about gas hitting $5.50 or more per gallon and many fueling stations closing due to empty tanks by Sunday.
Part of the problem is what’s called the self fulfilling prophecy. Rumors circulate, NC citizens panic to fill not only their tanks but reserve containers, and essentially create a run on something for which there is no real shortage.
And that’s the latest chatter about North Carolina Gas Prices.
Tags: anti-gouging law, gas shortage, governor easley, north carolina gas prices
September 12th, 2008 at 5:17 pm
Here is what the anti-gouging law states:
North Carolina’s Anti-Gouging Law in 1996
(General Statutes 75-36)
(a) It shall be a violation of G.S. 75-1.1 for any person to sell or rent or offer to sell or rent at retail during a state of disaster, in the area for which the state of disaster has been declared, any merchandise or services which are consumed or used as a direct result of an emergency or which are consumed or used to preserve, protect, or sustain life, health, safety, or comfort of persons or their property with the knowledge and intent to charge a price that is unreasonably excessive under the circumstances.
(Later amended to be even more restrictive, outlawing price changes reflecting cost increases up the supply chain, August 2006, SL2006-245, GS 75-38).