Thursday, September 07, 2006

Explain Gas Prices And Price Gouging

3 Key Questions About Gas Prices and Price-gouging?
By Mike Makler

nd profit. Even the State Taxes are often higher then the Retail Markup.

2 - Why do gas prices vary so much State to State ?

The biggest reason especially in the case of Neighboring states like New York and New Jersey or Illinois and Missouri is state taxes. Gulf Cost States (Mississippi, Alabama, Louisiana, Texas) have lower gas prices then the rest of the country because they are closet to the Gulf of Mexico where about 1/2 of the Gas is Produced.

3 - What Should You do if you suspect price-gouging?

Price-gouging is a very sensitive subject. Just because one gas station is charging 10%, 20% or even 30% more then others in the same area doesn't mean it is price-gouging? Before you report price-gouging check with websites like Gasbuddies.com to determine the national average price and your local price. Clearly if you paid 2 or 3 times the local price you were gouged. If you pay 50% or more above the average price it may be harder to determine price-gouging. If you feel you were significantly over charged for gas then save your receipt and contact your State Attorney General.

The Department of Energy has a web site (gaswatch.energy.gov) where consumers can report suspected price-gouging

About the Author
Mike Makler Offers Financial Services (Mortgages,Life Insurance, Annuity) in Florissant Missouri which is in North St. Louis County Missouri Just Across the Bridge from St. Charles Missouri

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