Topic:
FINES; FUEL PRICES; GASOLINE; INVESTIGATION; PRICE CONTROL; RETAIL TRADE; STATE FUNDS;
Location:
GASOLINE; GASOLINE DEALERS;

OLR Research Report


April 10, 2006

 

2006-R-0292

INVESTIGATION IN GASOLINE PRICE GOUGING

By: Daniel Duffy, Principal Analyst

You asked how many retailers paid fines or settlements resulting from the attorney general's investigation into price gouging during the recent spike in gasoline prices and if the fines were deposited into the General Fund or paid to consumers as restitution.

Four gasoline stations agreed to make excess profit payments totaling $ 12,691 to the state and to comply with the law banning unconscionably excess profits during abnormal market disruptions. They are: Blue Hills Getty, Bloomfield ($ 1,591); Opal Ventures V, doing business as Mobil of Newington ($ 5,000); New Milford Hess, New Milford ($ 1,800); and Huntington Gulf, Shelton ($ 4,300).

The fine proceeds were deposited into the General Fund.

DD: ts