NY AG to combat illegal price gouging amid rising gas costs, pandemic impacts
New York Attorney General Letitia James is warning consumers to be on the lookout for price gouging - especially at the pump.
James launched a new rulemaking process that she plans to use to implement new price gouging rules to crack down on pandemic profiteering and corporate greed.
Her office will examine and address new evidence that some of the recent price hikes by big corporations were driven by profit and not increased costs. Her office is urging New Yorkers to report any dramatic gas price increases..
New York actually has a state law prohibiting gas sellers from charging unconscionably excessive prices during an abnormal market disruption like the one the country is going through now.
"The rising costs of essentials and basic household items has had a real impact on working families," said James. "Throughout the pandemic, hardworking New Yorkers have been struggling to make ends meet, but big corporations have been celebrating record-breaking profits. It doesn't add up. My office is prepared to use every tool in our toolbox to crack down on price gouging and pandemic profiteering."