“Connecticut state law requires the Attorney General to notify the State of Connecticut when we are in an abnormal market disruption when the price of gasoline hits $3.00 a gallon at the wholesale level. This is nothing more than a notification required by the law that is kicking in. This is not Attorney General Tong accusing anyone, whatsoever, of gouging. They are intimately aware that the price of crude oil is racing past $140 a barrel. They are intimately aware that wholesale prices are up well over one dollar in a week’s time. They are intimately aware of what’s happening with the commodity markets on Wall Street. In no way is this an accusation that there is gouging occurring. If anything, retailers are being overwhelmed by how fast prices are increasing while they see their margins evaporate. This is simply a state law that requires a notification to be made when prices get over $3.00. That’s all this is.” ~Chris Herb
Chris Herb is President and CEO of Connecticut Energy Marketers Association. (CEMA) We are a trade organization which represents 600 local family owned heating oil/Bioheat® fuel retailers. Our motor fuels members own, operate, and distribute gasoline to 1,000 locations throughout Connecticut.