- 03 Jul
Accusations of Price Gouging
According to NACS, there have been accusations of fuel price gouging in the aftermath of last week’s storms and the declaration that West Virginia is in a state of emergency.
According to West Virginia Assistant Attorney General Douglas Davis, state law says “you take the date of the emergency declaration, go back 10 days, and whatever the price was then, you can raise it 10% before we get interested.”
In Virginia, price-gouging laws are in effect through July 30, after the Governor declared a state of emergency June 29. The law in Virginia states that businesses can be charged with price gouging if they charge a price that is “unconscionable” when compared to the average price of the same product during the emergency declaration. The term “unconscionable” is not defined.
In times of these accusations, Fuel Price Management software solutions such as PriceAdvantage can shorten a fuels price audit from days needed to track down stacks of spreadsheets, to a few minutes needed to run a built-in fuel pricing history report.