PRESS RELEASE
March 24, 2008

Majority Urges Investigation of Possible Gas Price Gouging

Members of the majority of the Rensselaer County Legislature say they would like the Attorney General to investigate possible crude oil price gouging, saying an investigation can help stop the skyrocketing of gas prices.

The Republican majority has filed a resolution for consideration at the April 8 legislative meeting asking Attorney General Andrew Cuomo to investigate the record increases for crude oil. Majority legislators said they are hopeful Cuomo can join with other states Attorneys General to investigate the increase in crude oil prices.

Chairman of the Legislature Neil J. Kelleher said past investigations and oversight by consumer advocates and Attorney Generals have helped stabilize gasoline prices.

“An investigation by Attorney General Cuomo and other state Attorney Generals can send a very clear message that those forces in charge of setting gasoline prices are under close scrutiny. It’s amazing how a little sunlight can bring about a correction in gas prices,” said Kelleher.

The increases in recent months have meant gas prices range from$3.20 to $3.40 per gallon in upstate New York. Those increases have placed a dramatic financial strain on upstate residents and businesses.

“Gasoline is a necessity and the amount residents and businesses are forced to pay to keep their vehicles is really hurting the economy. The prices restrict travel, take away money that could be spent elsewhere and overall, really restricts any growth in the region,” said Legislator Martin Reid.

“It wasn’t too long ago that people were shocked that prices were past the $3 per gallon mark. Now prices seem to be climbing toward the $4 per gallon with no end in sight. An investigation can help,” said Legislator Nancy McHugh.

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