April 29, 2010 10:28

Louisiana price gouging laws are in effect following the state of emergency declaration from Gov. Bobby Jindal resulting from the massive Gulf Coast oil spill.

Louisiana price gouging laws are in effect following the state of emergency declaration from Gov. Bobby Jindal resulting from the massive Gulf Coast oil spill.

Price gouging is when a seller prices merchandise much higher than is reasonable or fair. The price gouging statutes prohibit the raising of prices above the pre-emergency levels unless there is a national or regional market commodity shortage, Attorney General Buddy Caldwell explained in press release Thursday afternoon. This means that gasoline, petroleum products, hotels, motels and retailers are prohibited from raising prices during this state of emergency unless they incur a spike in the price of doing business. The price gouging laws carry both civil and criminal penalties.

If you suspect price gouging, please contact the AG at 800-351-4889 or visit its Web site at www.agbuddycaldwell.com and click "Emergency Preparedness."

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