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While gas prices soar, Maine legislators seek answers

While gas prices soar, Maine legislators seek answers

Photo: 560 WGAN Newsradio


As gas prices continue to rise to over $5 a gallon, a group of Maine legislators have sought answers from Attorney General Aaron Frey.

In a letter sent Thursday, members and leadership from both the House and Senate asked Frey to open an investigation over whether there has been any “market manipulation” in recent price hikes.  “We cannot sit idly by and do nothing while people all across our state continue to struggle”, they wrote.  “If petroleum companies are engaging in price gouging or other illegal activities, they should be held accountable.” According to the Portland Press Herald, a spokesperson for the Maine Attorney General’s Office said that they are giving the letter “careful consideration.”

The letter was sent on the same day that the national average of a gallon of gas reached $5 for the first time in our recorded history, according to GasBuddy, a firm dedicated to tracking gas prices across the nation.

In the letter, legislators pointed to the Russian invasion of Ukraine as a reason why fuel prices have skyrocketed in the past six months.  Additionally, lawmakers cited the increasing profits of Exxon Mobil, who tripled its first-quarter profit compared to last year, reporting firs-quarter profits of $8.8 billion.

Vox  reported that “the country’s top 21 companies took in $41 billion in profits during this year’s first quarter, $1.2 billion more on average per company compared to the same period last year.”

This type of investigation into price-gouging isn’t unprecedented, as Governor Mills requested a similar investigation in the early days of the COVID-19 pandemic.  The Mills Administration sought to protect Mainers from price-gouging scams on items like toilet paper, hand sanitizer, and “other necessities affected by the pandemic’s disruption of the market” the letter said.

The price of one gallon of unleaded gasoline was averaging $5.06 in Maine and $4.99 nationwide on Friday afternoon, according to GasBuddy.

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