AG Wants to Put Cap on Gas Gouging

If you’ve been to the pump in the last few weeks, you’ve definitely seen that prices are going up and the attorney general wants to know why.

"It’s going up, up, up. It’s ridiculous," said Marjorie Guidice of Avon.

"There’s no rhyme or reason as to why prices keep going up," said Mary Sue Cavanagh of Farmington.

You’re not the only one scratching your head. The Attorney General is also confused.

"The present market seems to be defying the laws of supply and demand. We have much greater supplies, pretty stable demand, yet prices are rising," Richard Blumenthal said.

Inventories are at an 18 year high and demand is at a seven year low. Last year, prices spiked to more than $4 a gallon and some fear that will happen again.

"It’s frustrating, especially in this economy. It’s terrible," Cavanagh said.

Last week, the Gas Dealers Association of Connecticut called for a federal investigation of rising gas prices. Now, Blumenthal is leading the way.

The average price of a gallon of gas in Connecticut is now $2.37, up 17 cents since May 4. Meanwhile, wholesale gas prices have spiked more than 50 cents since mid-February.

Blumenthal hopes his call for action will put a cap on gas gouging once and for all.

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