From the Star Tribune:
Price gouging at the gas pump would be a crime in Minnesota under legislation proposed by a state senator.
Perhaps Senator Murphy should check into hoteliers in the Duluth area who raise their prices during the summer months. Surely this is price gouging too. And while we're at it, we might as well call the Twins price gougers too. They charge higher prices for some games. Surely this must be price gouging as well. When senators vote to increase their own salaries, is this price gouging? Lastly, when a worker gets a raise, is that price gouging?
The measure, sponsored by Sen. Steve Murphy, DFL-Red Wing, chairman of the Senate's Transportation Committee, would make it a misdemeanor for refiners, wholesalers or retailers to sell gasoline at a price that "grossly exceeds their cost," with a penalty that could include 90 days in jail and a fine of up to $1,000.
Perhaps Senator Murphy can tell us why competition doesn't already do this. Also, perhaps he'd like to explain Minnesota's minimum gas price law which is designed to keep gas prices up!
THE Craig Newmark links to this article.
The funny part? The biggest gas price raisers of all will conduct the probe: The government.
...Besides, who's really making the money and profiting on gasoline? Here in Michigan, the government, and I'm talking about just the state of Michigan, takes about 30 cents per gallon. (Here's a PDF of how much your state takes). The local, state, and federal national average for total gas taxes is 45.9 cents per gallon. On the other side of the viscosity coin, evil oil companies make in the neighborhood of 9 cents per gallon.
Only in Maine could we actually have gas taxes that are tied to the CPI.
Posted by: Chad | May 13, 2006 at 01:08 PM