NJ sues oil firms for gasoline hikes after storms

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-09-26T233557Z_01_N26503436_RTRIDST_0_KATRINA-NEWJERSEY-LAWSUIT-UPDATE-2.XML

NEW YORK, Sept 26 (Reuters) - New Jersey's Acting Gov. Richard Codey on Monday said the state had sued Motiva Shell, Amerada Hess (AHC.N: Quote, Profile, Research) and Sunoco (SUN.N: Quote, Profile, Research) for overpricing gasoline after Hurricane Katrina shut much of the Gulf of Mexico's oil production and damaged refineries.

New Jersey motorists paid an average of $2.87 a gallon on Monday, according to the American Automobile Association.

State law bars gasoline stations from raising prices more than once every 24 hours, but Codey said multiple price changes had occurred within such a period.

"Katrina was a devastating hurricane, not a financial windfall for the shameless," the Democratic governor said in a statement.

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[I_Make_Mistakes]

1. Bet PA files soon too! There were all kinds of warnings to the

oil countries to not take advantage of the situation.

[Blue Gardener]

2. Good!

Hope others follow suit.

[dubyaD40web]

3. Nice!

I hope they bitch-slap the oil companies! I'm in KS and they have no chance to follow suit. There's some law about how the price can't go up more than 60% in 24 hours to be considered gouging. KS SUX!