Official warns of fundraising scams after Idaho shooting
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Official warns of fundraising scams after Idaho shooting
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Idaho accused gas retailers of price gouging. Now they want a law to curb state s power John Sowell, The Idaho Statesman
Feb. 3 Idaho s three largest gasoline retailers agreed to provide $1.5 million in gas discounts this year, after Idaho Attorney General Lawrence Wasden s office investigated the companies for gouging customers during the coronavirus pandemic.
Jacksons Food Stores, Maverik and Stinker Stores weren t investigated for increasing prices. Instead, they were accused of lowering prices at a slower pace than wholesale prices were falling as demand soured.
The retailers don t want the state to do that to them again. A trade association that represents gas stations and convenience stores is pushing for the change in state law to prevent it.
Records reveal how much Idaho dealers boosted margins on gas sales early in pandemic John Sowell, The Idaho Statesman
Jan. 7 Idaho gasoline retailers margins were relatively stable before the coronavirus pandemic hit and Attorney General Lawrence Wasden accused the state s three largest convenience store chains of gouging customers.
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Between 2006 and 2019, the difference between the price dealers paid for gas and the price they charged ranged between 2 and 15 cents a gallon. Known as markup or margin, the difference takes into account the 51 cents per gallon in state and federal taxes, along with delivery costs.
The margin was 10 cents in February. The arrival of the coronavirus pandemic in Idaho changed that. In March, when the Gem State saw its first Covid-19 diagnosis and Gov. Brad Little issued an emergency declaration, the margin shot up to 39 cents.