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Price gouging is back in the news, this time as Americans rush to buy gasoline after a major East Coast pipeline is temporarily shut down. Our Antitrust Team provides lessons for how companies can handle price gouging, from avoiding becoming victims of vendors to their own compliance with individual state laws.
An overview of price-gouging laws
How the current “crisis” is affecting businesses
Lessons to be learned
The recent ransomware attack on a major East Coast pipeline on May 7 has triggered fuel shortages and increased retail gasoline prices in many areas of the country. As often happens in such situations, these events have been accompanied by claims of retail price gouging. In response, the governors of Georgia, Virginia, North Carolina, and South Carolina have declared states of emergency and enacted executive orders triggering statewide prohibitions on price gouging for gasoline. This begs the questions of
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