Attorney General Daniel Cameron Thursday alerted Kentuckians that suspected price gouging of gasoline can be reported to the Attorney General's Office by calling 502-696-5485.
KRS 367.374 outlines the sale or rental of goods and services when a state of emergency is in effect, and states that no person shall sell or rent an item for a price "which is grossly in excess of the price prior to the declaration." The statute sets a threshold for gasoline at the price the day before the price gouging order was issued. The statute further provides that a price is not a violation if it is ten percent or less above the price prior to the declaration or ten percent or less above the sum of the costs and normal markup for a good or service.
As an example, AAA reported that an average price for a gallon of regular gasoline on June 22, 2022, was approximately $4.717. In order for price gouging to occur under the statute, regular gasoline would have to be sold at approximately $5.188 or higher. Other factors, including cost to the business, increased transportation costs, etc., are also considered when evaluating suspected price gouging.
"My office has been monitoring gas prices across the Commonwealth for months and has already issued civil investigative demands and subpoenas to businesses suspected of charging unconscionable prices for gasoline," said Cameron. "We will continue to do our job and protect Kentuckians from unlawful prices. We've also addressed rising gas prices at the source, by challenging the Biden Administration's energy polices, which are contributing to high prices at the pump and killing American energy. It is my hope that in addition to issuing today's price gouging executive order, Governor Beshear will also join our efforts to stop the Biden Administration from enacting energy policies that further harm Kentucky families."
When filing a price gouging complaint, Kentuckians are encouraged to report as many details as possible about the suspected price gouging, including the name and address of the seller/retailer, the item purchased, the price of the item after the emergency declaration, and the price of the item before the emergency declaration, if known. If a refund is sought, consumers should also keep receipts from the transaction to show proof of purchase.
Kentuckians should report suspected price gouging to 502-696-5485.
On June 14, Cameron sent a letter to Governor Beshear detailing the Attorney General's efforts to combat rising gas prices and protect Kentuckians.
Categories: Kentucky, Energy