SC AG reaches settlement over gas price gouging

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By Greg Baldwin

Story Published: Jul 8, 2009 at 10:26 AM EST

Story Updated: Jul 8, 2009 at 11:15 AM EST

COLUMBIA, S.C. (AP) - South Carolina's top prosecutor says his
office has settled with several gas retailers investigated for
price gouging.

Attorney General Henry McMaster announced Wednesday that his
office had settled with three gas retailers and one wholesale supplier. The businesses have agreed to donate a total of $6,500 to the American Red Cross for hurricane relief.

McMaster launched his investigation in September after Hurricane
Ike threatened the Gulf Coast, causing some refineries to close temporarily. He says the spike in gas prices was caused mostly by a
lack of supply and the percentage increases last year weren't as
dramatic as after Hurricane Katrina in 2005.

McMaster settled with seven gas stations for price gouging in 2006. Those businesses paid $500 each to a Hurricane Katrina relief
fund.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

 


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Wednesday, Jul 8 at 8:39 PM TK3 wrote ...

What a absurd settlement in that more than that amount was gouged from customers who will never see a penny returned. Better, if not perfect, would be for stations to lower their prices till the amount gouged was matched. That way they would have got more business and perhaps regained some trust. As it is, I would not ever visit a station again that gouged.

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Wednesday, Jul 8 at 4:03 PM mike wrote ...

bullsh*%, should've been hung!

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Wednesday, Jul 8 at 4:01 PM Bloodhound wrote ...

Who asked the consumers that were gouged if they wanted their money to go to a hurricane relief fund. The gas retailers still don't get fined for doing wrong, only the consumer.

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