Authorities are warning merchants about taking advantage of the coronavirus outbreak to jack up prices on in-demand products like hand sanitizer and face masks.

Gov. Andrew Cuomo is vowing to crack down on stores that are found to be price gouging. He says an investigation is underway to combat the issue.

"We have reports of stores selling hand sanitizer for $80 a bottle," the governor said. "It is not worth it to the store owner. You can lose your license and we are very serious about this."

MORE: Price Gouging Complaint Form - NY Attorney General's Office

Online giants Amazon and eBay say they have also taken steps to ban online sellers from hiking prices on protective items.

New Yorkers who suspect price gouging are urged to file a complaint with the state by calling 1-800-697-1220.