New York State Fears Gas Price Extortion After Biden’s Russia Ban
Officials are warning New Yorkers of potentially inflated prices at the pump after the latest Russian ban. Here's how to report dramatic increases in the price of gas.
On Tuesday, New York Attorney General Letitia James told oil companies and gas stations across the state that price gouging will not be tolerated.
Her comment came in response to U.S. President Joe Biden’s announcement earlier on Tuesday that the United States will ban imports of Russian oil, natural gas, and coal.
James warned oil companies and gas stations that price gouging is illegal and reminded New Yorkers to be on alert for potential price gouging of fuel.
“President Biden is taking critical and necessary action to hold Russia accountable for this unprovoked invasion that has claimed thousands of Ukrainian lives,” James said.
Russia is one of the world’s largest producers of energy, and as a result of these sanctions, New Yorkers should prepare for continued market disruptions, potentially inflated prices at the pump, and ensure that they know their rights, according to the New York Attorney General's Office.
“This newest round of sanctions could impact New Yorkers, so we are reminding companies that price gouging is illegal and ensuring that consumers take precautions to protect themselves and their wallets. Anyone who has experienced issues relating to the price gouging of fuel should contact my office, and we will continue to do everything in our power to protect consumers," James added.
New York law forbids sellers of fuel and other necessary goods from charging what officials describe as "unconscionably excessive prices during an abnormal market disruption." This includes disruptions caused by world conflicts, like Russia's invasion of Ukraine.
New York consumers who experience dramatic increases in the price of gasoline or fuel should report these incidents to the Office of the Attorney General. CLICK HERE to report.
When reporting price gouging to OAG, consumers should: