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Article: NEW LAW HELPED DETER PRICE GOUGING IN 2008
- Article from:
- US Fed News Service, Including US State News
- Article date:
- July 11, 2009
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COLUMBIA, S.C., July 8 -- The South Carolina Attorney General issued the following news release:
Attorney General Henry McMaster today announced the findings of a nine-month investigation into gas price gouging in the wake of Hurricane Ike, which struck the gulf coast in September 2008.
In a report issued to the public, the Attorney General's Office made three key findings:
* Palmetto state retailers' price markups following Hurricane Ike in 2008 were not as dramatic as they were after Hurricane Katrina in 2005, indicating that the state price gouging law enacted in 2006 had a deterrent effect.
* The September 2008 spike in prices was primarily due to a lack of supply, causing a scramble ...