Energy Industry
Industry: Email Alert RSS FeedPrice-gouging bill advances in House.(news and trends)(Brief Article)
Fuel Oil News, June, 2005
In April, Rep. Steve Israel, D-N.Y., introduced an amendment that passed on the House floor by a margin of 302-128 that protects consumers from gasoline price-gouging. Israel's amendment, which had the backing of NACS and SIGMA, would require the Comptroller General to investigate the impact of consolidation of wholesalers on gasoline prices.
"Corporations are earning windfall profits while privately owned stations are struggling to keep afloat," Israel said. "Most people who have lived in one community for a long time can speak of 'their' service station, where 'their' mechanic worked and where they knew the owner. However, in recent years, many of those stations have closed or come under corporate ownership. What is more, the reliable, lower prices of...
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