INDIANAPOLIS ? The state attorney general?s office is investigating why gasoline stations in central Indiana hiked pump prices above $4 on Monday, WXIN-TV reports. An office spokesperson indicated that the examination was triggered because wholesale prices for regular unleaded gasoline on Monday ranged from $3.40 to $3.55, plus taxes.
The attorney general?s chief economist said he wants answers as to why the spike in gasoline prices. ?I want to make sure exactly from whom and when they purchased gasoline from. From there I can go back to that same supplier and see what are the ongoing prices that they maintained,? said Tom Bowdin.
If he finds that prices shouldn?t have gone up that much, Bowdin indicated that consumers could see a refund. ?The retail stations have worked with us to provide a refund to consumers back to a market price that was sustainable,? he said, adding that if a station is found to have engaged in price gouging, the attorney general?s office can issue a fine.
Meanwhile, a few states over, the West Virginia attorney general?s office is trying to explain to residents what can and cannot be done about rising pump prices. ?The price gouging law is only triggered when there is a declaration of an emergency by the governor or the Legislature, or a national declaration by the U.S. President,? said Doug Davis, assistant attorney general in West Virginia Attorney General?s Office, to WVNS-TV.
The AG?s office is attempting to educate consumers in how the prices are set for fuel. ?It gives a little information on how the gasoline industry works and our role in dealing with gasoline price gouging,? said Davis.
An investigation into price gouging allegations following Hurricane Ike in 2008 found ?that the retailers were staying within that 10 percent price cap,? said Davis.
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