Tags: oil and gas industry | energy prices | inflation | new york attorney general letitia james

NY AG Launches Gas Price Gouging Probe

Letitia James
New York Attorney General Letitia James (AP)

By    |   Thursday, 14 April 2022 07:28 AM EDT

New York Attorney General Letitia James is investigating whether the oil industry is gas price gouging, CNN reports.

It is the first such wide-ranging probe and comes as leading Democrats have been questioning whether oil companies are taking advantage of the 8.5% inflation in the United States to increase prices at the pump above fair market value.

James' office is looking at the entire gas supply chain — from production at oil refineries, to shipping companies, to pipeline operators, to oil storage terminals, and all the way down to the gas pump.

New York has a price-gouging statute that gives the state the authority to conduct such an investigation into "unconscionably exessive" and "extreme" prices.

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StreetTalk
New York Attorney General Letitia James is investigating whether the oil industry is gas price gouging, CNN reports.
oil and gas industry, energy prices, inflation, new york attorney general letitia james
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2022-28-14
Thursday, 14 April 2022 07:28 AM
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