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MI Attorney General Warns Against Gas Price Gouging

 
MI Attorney General Warns Against Gas Price Gouging
Posted Thursday, August 28th 2014 @ 12pm  by WOOD Radio news team

As Michigan drivers confront frequently fluctuating gas prices, Attorney General Bill Schuette is warning retailers against any attempt at price gouging or price fixing during the upcoming Labor Day weekend.

Schuette also released an infographic for consumers, Price at the Pump, which explains the average costs, fees, and taxes that go into the cost of a gallon of gasoline.

Under the Michigan Consumer Protection Act, a retailer may not charge a price that is "grossly in excess of the price at which similar property or services are sold." Anti-trust laws also prohibit gas stations from entering into agreements to arbitrarily fix prices in unison. In 2012, five Michigan station owners were convicted of gasoline price-fixing and are now required to submit to monitoring after they spiked prices well above the statewide norm on a particular day or after a severe weather event.

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