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SENATE DEMOCRATS CRACK DOWN ON GASOLINE PRICE GOUGERS

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Jersey City Guide

Posted by New Jersey Senate Democrats on September 29, 2005 at 13:04:31:

FOR RELEASE:
Immediate
Sept. 27, 2005

CONTACT: Jim Manion
Tel: (609) 292-5215

SENATE DEMOCRATS CRACK DOWN ON GASOLINE PRICE GOUGERS

TRENTON - Three leading Senate Democrats have introduced legislation
to crack down on gasoline price gouging by imposing stiff fines on greedy
service station owners and the unscrupulous wholesalers who jack up their
gas prices multiple times daily.

"We have to send a clear message that heartless profiteers should be
fined heavily for their greed," said Senator Nicholas J. Sacco, D-Hudson and
Bergen, the Chairman of the Senate Transportation Committee.

Senator Sacco and Senator Joseph Coniglio, D-Bergen, Chairman of the
Senate State Government Committe, have introduced a bill, S-2769, to
increase the fine from $50 to up to $1,500 for a first offense by a retail
gasoline seller of changing the posted price more than once in a 24-hour
period. Subsequent offenses would carry fines of up to $3,000 each.

"In the midst of the last two hurricanes, we've seen the ripoff
tendencies of a few bad apples who seemingly hiked their retail gas prices
by the hour," said Senator Coniglio. "These fine levels should be a
deterrent to such greedy practices."

Senator Sacco and Senator Joseph Vitale, D-Middlesex, Chairman of
the Senate Health, Human Services and Senior Citizens Committee, also
introduced legislation, S-2768, to make it illegal for the first time for
gasoline wholesalers to increase their "tank wagon" price of motor fuels
sold to retailers more than once in a 24-hour period.

"Some of the suspected gas gougers at the retail level were claiming
they were forced to increase their prices multiple times to keep pace with
the increases imposed on them by wholesalers," said Senator Sacco. "Well,
what's fair for the retailer should be fair for the wholesaler."

Penalties for first time offenders under the Sacco-Vitale proposal
would bring guilty wholesalers fines of up to $5,000. Subsequent offenses
would carry fines for wholesalers of up to $10,000 for each occurrence.

"Gasoline price gouging is an unconscionable offense against
drivers, especially for seniors and others on fixed income who need their
cars to get to the store, the pharmacy and to their doctor's offices," said
Senator Vitale.


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