Proposed state law would limit how often the price of fuel could change in one day

| 30 Sep 2011 | 09:44

    ALbany — Legislation has been introduced that would limit the number of times retailers can increase the price of motor fuels in one day. Under current law, there is no limit to how often, during a 24-hour period, retailers can raise the cost of motor fuels. Assembly Bill 1970 would prohibit retailers from changing the price per gallon of motor fuels, which were purchased by the retailer in the same lot, multiple times in one 24-hour period. The legislation aims to protect motorists from price gouging, as gasoline lots are purchased by retailers at a fixed wholesale price. The legislation does leave room for retailers to change the price on motor fuels purchased from different lots, thereby giving retailers a fair ability to market gasoline and diesel fuels.