Jim Hood Continues the Price Gouging Fight

Following up on his announcement in late May that 5 of 7 targeted companies had settled for gas gouging which occurred immediately after Hurricane Katrina is fresh news. He is taking the remaining two to court for their wrongdoing.

Hood’s office investigated seven companies whose profits increased over 25 percent in the months after the Aug. 29, 2005, storm. Five firms agreed to pay a settlement to the state.

“It is unfortunate that Wilburn Oil and Fair Oil have refused to cooperate, even though they were caught red-handed increasing their profits by over 25 percent during a time when people were fleeing from a hurricane,” Hood said in a statement.

The Clarion Ledger Article

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