Replies(220 - 233)

[JHeath]

I've found the Indiana code relating to this topic, and wanted to post it here for your review and discussion. If you choose to file a complaint, you may do so through the Office of the Indiana Attorney General. Enjoy the "light" reading.

http://www.in.gov/legislative/ic/code/title4/ar6/ch9.1.html

Information Maintained by the Office of Code Revision Indiana Legislative Services Agency
09/15/2008 04:31:03 PM EDT
IC 4-6-9.1
Chapter 9.1. Price Gouging in Declared Emergencies

IC 4-6-9.1-1
Period for which emergency declared
Sec. 1. (a) Sections 1 through 7 of this chapter apply to the period during which an emergency is declared and the twenty-four (24) hours before the declaration by the governor under IC 10-14-3-12 or IC 10-14-3-13.
( b ) The definitions in IC 10-14-3 apply to this chapter.
As added by P.L.124-2002, SEC.1. Amended by P.L.2-2003, SEC.11.


IC 4-6-9.1-2
"Price gouging" defined
Sec. 2. For purposes of this chapter, "price gouging" means charging a consumer an unconscionable amount for the sale of fuel. Price gouging occurs if:
(1) the amount charged grossly exceeds the average price at which fuel was readily obtainable within the retailer's trade area during the seven (7) days immediately before the declaration of emergency; and
(2) the increase in the amount charged is not attributable to cost factors to the retailer, including replacement costs, taxes, and transportation costs incurred by the retailer.
As added by P.L.124-2002, SEC.1.


IC 4-6-9.1-3
Powers and duties of attorney general
Sec. 3. The attorney general has the following powers and duties regarding price gouging:
(1) To investigate complaints received claiming price gouging.
(2) To seek injunctive relief as appropriate.
(3) To seek restitution for victims of price gouging.
(4) To institute an action to levy and collect a civil penalty.
As added by P.L.124-2002, SEC.1.


IC 4-6-9.1-4
Use of information obtained in investigation
Sec. 4. (a) Information obtained during the attorney general's investigation under this chapter, including information from a person who responds to the investigation and designates the information as confidential, must be maintained as confidential until the investigation is completed by the attorney general and a course of action is determined. The attorney general may not make known in any manner any information obtained in the course of the investigation to persons other than those specified in subsection ©. Once the investigation is completed, if there is an agreed upon settlement or if charges are filed, the information becomes public.
( b ) The attorney general shall make available to the public, upon request, aggregate information concerning complaints of price

gouging. The aggregate data may not identify particular persons or locations under investigation.
( c ) For purposes of this section, references to the attorney general include other individuals designated in writing and acting on behalf of the attorney general during the investigation. A person designated shall preserve the confidentiality of information under subsection (a).
(d) A person who is served with a request for information, a subpoena to give testimony orally or in writing, or a request or order to produce books, papers, correspondence, memoranda, agreements, or other documents or records under this chapter may apply to any court for protection against abuse or hardship.
As added by P.L.124-2002, SEC.1.


IC 4-6-9.1-5
Action brought by attorney general
Sec. 5. If an investigation by the attorney general results in a finding of price gouging, the attorney general may bring an action in a circuit or superior court with jurisdiction in the county where the price gouging allegedly occurred. If the court finds that the retailer engaged in price gouging, the court may assess a civil penalty against the retailer. The civil penalty may not be more than one thousand dollars ($1,000) per transaction.
As added by P.L.124-2002, SEC.1.


IC 4-6-9.1-6
Civil penalties
Sec. 6. Civil penalties collected under section 6 of this chapter must be deposited in the state general fund.
As added by P.L.124-2002, SEC.1.


IC 4-6-9.1-7
Preemption of local government powers in price gouging emergencies
Sec. 7. This chapter preempts the power of local governments to regulate pricing of commodities under a declaration of emergency:
(1) under IC 10-14-3-12;
(2) under IC 10-14-3-13; or
(3) by a local government.
As added by P.L.124-2002, SEC.1. Amended by P.L.2-2003, SEC.12.

This post has been edited by southsider2k7: Oct 30 2008, 08:06 AM

[Southsider2k12]

Gas prices now as low as $3.62 around MC. With futures still around $3.04 this is on the very low end of about where prices should be. I wouldn't be surprised to see an early week spike back to the $3.89 to $3.99 range.

[Southsider2k12]

GasBuddy
Spotters reporting a price hike may be underway in MI, IN, and OH! Watch out IL, WI, KY, MO, MN!

[Southsider2k12]

Gas futures are sitting at $2.96 currently, and prices around town are in the $3.45 range. That is on the pretty low end of things, so don't be surprised to see a mid-week spike.

[diggler]

Egypt is a key bottleneck in the global oil industry. Should the current turmoil in the North African country get any worse, a potential oil spike could damage any nascent economic recovery.

http://bit.ly/1cRGC19

[Southsider2k12]

Just as a heads up... Oil Prices are soaring today. They are up over $3 a barrel on the news out of Syria. Gasoline futures are up over 7 cents a gallon, and are back over $3.00 a gallon. It is my feeling that we are probably going to see a price spike coming in the next few days, and it wouldn't shock me if that level is around $4.00 a gallon at the pumps. Usually news like this leads to those sorts of price spikes. If I were you, I would top off my tank within the next day.

[diggler]

Could get friggin ugly in the coming days ahead.

[diggler]

Oil: Syria threat could hike gas prices, pull in 'entire Middle East'

By Ricardo Lopez

August 28, 2013


The threat of a U.S. strike on Syria is roiling global oil markets and could cause temporary price increases at the pump.

The price of October U.S. crude oil continued to rally Wednesday, rising to $110.34 a barrel -- a 1% increase. Brent crude oil was up $1.95 at one point, reaching nearly $116 a barrel.

Oil prices have been rising since July, when tensions in Egypt escalated into a crackdown on supporters of now-ousted president Mohamed Morsi. But prices jumped this week as the Obama administration weighed taking military action against the Syrian military for apparently launching a chemical attack against civilians.


Though Syria is not a large oil producer, the fear is that the conflict could spread across the region.

"The entire Middle East could become involved in this," said Patrick DeHaan, a senior petroleum analyst with GasBuddy.com. "The concern becomes that the supply chain could develop a kink."

DeHaan said higher crude oil prices are expected to translate into higher gas prices for consumers.

The average price of gas in the U.S. is $3.57 a gallon. In California, the average price is $3.78. If the conflict in Syria continues, those prices could rise by as much as 20 cents, DeHaan said.

In California, "prices could flirt with $4 a gallon," he said.

With Labor Day unofficially ending the summer driving season, demand should drop and price increases are expected to be temporary, analysts said.

[Ang]

[soapbox]What the Syrians did is atrocious, but why is it our business to attack them? I just don't understand why we have to meddle in the affairs of other countries. Our money should be spend improving our own way of life. If we minded our own business, I firmly believe 9/11 and other terrorist attacks would have never happened. We are not the Rulers of the World and we need to stop trying to be.
Just my two cents.....[/soapbox]

[Southsider2k12]

http://www.nwitimes.com/business/local/gas...640c25e27d.html

Average gas prices

Per gallon of regular fuel Monday Week ago Month ago Year ago Northwest Indiana $3.466 $3.485 $3.633 $3.891 Chicago metr… Read more

Gas prices have been dropping and could be 20 to 25 cents lower by Halloween.

The average retail gasoline price in the Gary metropolitan area fell 2.4 cents per gallon last week to $3.45 a gallon, according to GasBuddy.com's daily survey of more than 300 area gas stations.

Motorists can fill their tanks for as little as $3.31 a gallon in Burns Harbor, and for $3.33 a gallon in Hammond, Lake Station and East Chicago.

Prices have been falling and should decline further because the summer driving season is over, demand is dropping off and refineries are switching to a cheaper winter blend, said Patrick DeHaan, a Chicago-based senior petroleum analyst for GasBuddy.

"Kids are back in school, and people aren't taking vacations or doing as much discretionary spending," he said. "In Northwest Indiana, people aren't spending as much time on their boats in Lake Michigan. There's less vacation travel, and people aren't going to visit their lake cottages."

Gas prices traditionally decline in the fall, but retail prices are even lower this year because the hurricane season has largely passed without inflicting much damage to Gulf Coast oil refineries, DeHaan said.

The average price Sunday in the Gary metro area was 17.8 cents a gallon lower than a month ago and 41.7 cents a gallon lower than a year ago.

Indiana has has one of the biggest year-over-year drops in the country, Gasbuddy chief oil analyst Tom Kloza said. Gas has even fallen below $3 a gallon in Terre Haute.

Recent history suggests gas should get even cheaper between now and Halloween, by another 20 to 25 cents a gallon, Gasbuddy's analysts predict. A hurricane, escalation of the conflict in Syria, or several other factors could however abruptly halt the downward slide, DeHaan said.

"Indiana prices have been on a roller coaster," DeHaan said. "Prices should reverberate between $3.15 to $3.35 by Halloween, but that's just the range."

Downward pressures on gas prices should keep the upper hand over the upward pressures for the foreseeable future, but the balance can shift daily, he said.

Given the cost of oil, a few refineries for instance might struggle to make money on the current retail gasoline prices and throttle back on production, which would prop up what motorists pay at the pump and restore their margins, DeHaan said.

[Southsider2k12]

A bit good news on the gas price front locally. Now that the Syria news seems to have faded from the front page, futures prices have fallen into the low $2.60's and the prices at the pump have fallen accordingly. Locally we have gotten down to as low as $3.16 with all of the other towns in the Region around the same area of pricing. Price levels are sustainable in this area, so unless we fall towards $3, I wouldn't expect any price spikes in the short term. The wild card in this is the government shutdown. If it lasts for a longer period of time, we could actually see prices fall as economic activity slows. This information is also subject to the usual caveats about world news and refinery outages causing quick price spikes.

[Southsider2k12]

I haven't seen a warning from GasBuddy, but this morning prices in Valpo have spiked from $3.22 to the $3.49-$3.55 area. I don't know if this is a local spike, or if it just means our prices will spike later in the day, but I thought people might want the heads up.

[Southsider2k12]

Bad News at the pump... Looks like it is gas price spike day today. Prices appear to be jumping to $3.29 around The Region. If you see a price in the $2.90's fill up soon, because it won't last.

[Ang]

Thanks for the heads up! I went out at lunch and managed to get my gas at Knoll Bros for $2.93/gal. While I was filling up, they increased the price to $3.27/gal. So, thanks to you, I beat the increase!

[MCRogers1974]

Gas Buddy reports a price spike up to $3.99 very shortly.