Florida subpoenas 4 gas sellers in price probe ($5.39 gal)

[UpInArms]

Source: Reuters

MIAMI, Sept 14 (Reuters) - Florida regulators subpoenaed records from four gasoline companies named most often in 360 price-gouging complaints since Hurricane Ike hit oil-producing Texas, the state's attorney general said on Sunday.

Subpoenas were issued to the corporate offices of Flying J, Dodge's Gas Stores, Valero (VLO.N: Quote, Profile, Research, Stock Buzz) and Pilot Travel Centers, Florida Attorney General Bill McCollum said.

The state wants to examine their invoices to determine whether dramatic price increases at the pump were justified by their own rising costs of buying fuel from suppliers.

"There are quite a number of stations that have jacked their prices up to an incredible degree," McCollum told reporters on a conference call. "I've seen it as high as $5.36."

<snip>

McCollum said some dramatic price hikes could prove justified. His investigators checked out another gas station that was the subject of complaints, McKenzie, and found it had legitimately raised prices because the price its suppliers charged had jumped by $1.60 a gallon, McCollum said.

Read more: http://www.reuters.com/article/bondsNews/idUSN1418418020080914?sp=true

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go after the "suppliers" too!

[elleng]

1. Dumb (or something)

to go after these small guys, when its the biggies who've jumped first and fastest, imo.