WIS News 10 - Columbia, South Carolina | Overnight gas spike: Is it price gouging?
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COLUMBIA, SC (WIS) - We have received many questions about the sharp jump in Midlands gas prices Thursday, and many people want to know if the practice is legal.
A spokesman for state Attorney General Henry McMaster says what happened is legal.
He says a gas station can charge whatever it wants for gas. At the same time, competing gas stations can respond by lowering their prices.
There are three ways a situation becomes price gouging:
In the third case, the state attorney general can declare something price gouging.
For example, say Hurricane Ike hits the refineries in Texas. If that causes gas prices to go up in the Palmetto State, Attorney General McMaster can prosecute for price gouging.
Posted by Logan Smith
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