LAWSUITS NEWS & LEGAL INFORMATION
Sumrall Oil, Prince Oil, Spaceway, Southern Oil, and Moak Petroleum
Jackson, MS: (May-25-07) Mississippi Attorney General Jim Hood filed suit against several gas companies, alleging that they were guilty of price gouging after Hurricane Katrina. Hood's office was conducting studies in the current gasoline market, and came up with a consumer awareness pamphlet. The suit stated that the AG's office had thoroughly investigated reports of price gouging following Hurricane Katrina and found compelling evidence against seven companies, five of whom have cooperated and settled.
The parties that settled were, Sumrall Oil, Prince Oil, Spaceway, Southern Oil, and Moak Petroleum. Fair Oil and Wilburn Oil were the two that did not settle. Hood said all parties reached a settlement that would be the best for all involved. The total amount of the settlements is $293,254.61. As part of the settlement agreement, the companies showed a desire to work with the Attorney General's Office to educate the public about fluctuations in wholesale and retail gas prices, especially in times of emergency, and to work with the Attorney General's Office and the Legislature to clarify the statute to give more guidance to retailers when a state of emergency has been declared to avoid future violations. [LEGAL NEWSLINE: GAS GOUGING]
Published on May-25-07
The parties that settled were, Sumrall Oil, Prince Oil, Spaceway, Southern Oil, and Moak Petroleum. Fair Oil and Wilburn Oil were the two that did not settle. Hood said all parties reached a settlement that would be the best for all involved. The total amount of the settlements is $293,254.61. As part of the settlement agreement, the companies showed a desire to work with the Attorney General's Office to educate the public about fluctuations in wholesale and retail gas prices, especially in times of emergency, and to work with the Attorney General's Office and the Legislature to clarify the statute to give more guidance to retailers when a state of emergency has been declared to avoid future violations. [LEGAL NEWSLINE: GAS GOUGING]
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