Senator Fuschillo Announces New Law Raising The Penalties For Price Gouging
State Senator Charles J. Fuschillo, Jr., Chairman of the Consumer Protection Committee, today announced that legislation he sponsored to increase the penalties for gasoline stations and other businesses convicted of price gouging during emergencies has been signed into law by Governor Paterson.
The new law, which is already in effect, raised the maximum fine for those convicted of price gouging from $10,000 to $25,000 to deter gas stations and other businesses from engaging in this illegal practice.
Senator Fuschillo (8th District) said, “Businesses that try to line their own pockets at the expense of consumers by illegally overinflating their prices need to face tougher penalties. This new law creates a stronger financial deterrent and better protect New Yorkers from dishonest businesses that engage in this illegal activity."
Senator Fuschillo first introduced the legislation that became the new law in the wake of Hurricane Katrina, when more than 2,000 New York residents reported potential price gouging at the pump. An investigation by the Attorney General revealed that 15 service stations in New York State, including two in Senator Fuschillo’s district, were indeed unlawfully charging consumers excessively high prices.
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