A new bill in the New Jersey General Assembly, urges the State’s Attorney General to investigate possible price-fixing in fuel prices. The resolution sponsored by Benjie E. Wimberly, a former councilman from Paterson, and Wayne P. DeAngelo, a Democrat, aims to discover whether increases in oil prices that have plagued the State are a result of price-fixing, “”whether price-fixing in the sale of motor fuels is responsible for the escalation and fluctuation of motor fuel prices in this State from January of 2009 to the present,” reads the resolution.
The findings of the investigation may make for interesting read.
At present New Jerseyans are paying on average $3.36 per a gallon for regular, while in neighboring New York the same gallon is going for 4.00 dollars, according to AAA.
The resolution also reads, “exorbitant price increases for motor fuels during the past two years have also raised the specter that petroleum companies and speculators involved in the buying and selling of motor fuels are conspiring to increase profits, fix prices, and create artificial shortages at the expense of the public”.