ONLY ON 4: Nevada has no law against price gouging

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Updated: 10/10/2012 4:27 pm
RENO, Nev. (KRNV & MyNews4.com) - After several days of staggering gas prices - a U.S. senator is calling for a federal investigation into if they should have ever been raised so high. Dianne Feinstein of California wrote to the Federal Trade Commission:

"Consumers are all too familiar with energy price spikes which cannot be explained by market fundamentals, and which turn out years later to have been the result of malicious and manipulative trading activity."

Even if stations are found to be price gouging, there's not much which can be done about it in the Silver State. A spokesperson for the Attorney General's office tells News 4 Nevada has no law making that business practice illegal.

News 4 found out more than 30 states have laws against price gouging, but locally several bills trying to do it have tanked before becoming law. One challenge to getting them passed has been that many economists say laws capping prices could create product shortages in times of emergency.

“There will be more people who want the product at that price then the suppliers could profitable bring it in to the market place of the area,”
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rddc1947 - 10/10/2012 1:15 PM
0 Votes
I would think the government is responsible for price gouging. Instead of everything going down in this insane economy, they are gouging everything they can. If Obama wanted to help out, he could but he isn't for this country. Let's all vote for Romney who deserves a chance to help us all. Obama has had his chances for the last four year's & has failed us miserably. Get rid of Obamas wife who tells us how to eat healthy, that is none of her business how we eat. I eat what I want, when I want & she can stuff her kid's mouths with her so called meals & keep her mouth shut when it comes to how we feed our kid's.

Deadmeat99 - 10/10/2012 10:52 AM
0 Votes
Anyone frothing at the mouth about "price-gouging" needs to understand basic economics first. I know this nation is all about handouts and free stuff these days, but perhaps a little knowledge about supply and demand would help people understand what they are talking about before they post a comment. Perhaps go talk to the owners of the gas stations you all hate so much and see what their side of the story is.

Ktkt1955 - 10/10/2012 9:42 AM
0 Votes
Price gouging is a federal law from my understanding. The gas prices have gone up around my neck of the woods by .40 cents. and that is the minimum I have seen in this area. This is ridiculous when for $15 you can only get 4 gals. If these large gas companies feel they are losing money they better stop fixing the books. Or they are keeping two sets of books. Greed comes in all forms and this is getting ridiculous at the reasoning for STICKING IT TO THE CONSUMER to pay for the rich man to sit in his mansions and laugh w/a glass of sherry in his hand having a lavish party once a month. Big oil would have a BIG problem if we all went back to using horses for travel. Nevada is full of wild mustangs that get shautered or rounded up for no apparent reason on a monthly basis because man is stealing the horses/wildlife domain. Big OIL will get a rude awakening if there was a boycott on gasoline products. Much like what the many gas stations did about a week ago, they shut down the pumps. What if consumers don't buy gas for a week or so till the prices went down? This would make a point from the consumer point of view don't you think?

vietnamvet25 - 10/10/2012 8:46 AM
0 Votes
We have had right wing wackos in the govenors chair for way to long and they favor big(oil) business so to pass a law on price gouging will never happen.

Sandra - 10/10/2012 3:50 AM
0 Votes
WE "the people" NEED TO MAKE them *STOP price gouging* IT DOES NOT START WITH GAS look at OUR local grocery stores the difference is alarming to say the least..... What ever HAPPENED too The Consumer Advocates Agency ? DID THEY ALL GET FIRED/LAYED OFF/ or just partying some where???? ONE WAY TOO fight this *price gouging* is "shop around by phone" and ONLY GO TO THE cheapest EVERYTHING! and *VOTE*

Demetrius - 10/9/2012 7:45 PM
0 Votes
Its hard to believe that Nevada does not have a law for price gouging,when Nevada has a criminal law for the hard working citizens.
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