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Is it price gouging?

The State of Emergency in NC triggers the Price Gouging Law.
Credit: faithie - stock.adobe.com
inflation or price gouging text with shopping basket representing prices going up, concept of economy after the pandemic

GREENSBORO, N.C. — If gas is $3.29 today but all of us sudden it jumps up to $4.29 tomorrow. It's got to be price gouging, right?
Maybe and maybe not.

“Sometimes people see the price go up and automatically think it's price gouging. It may not be the case, it may be the supplier raised the price it may be in order to maintain the ice you're giving out you're having to bring generators in and fuel in those generators and that also increases your price to do business,” said Andy Ellen, President & General Counsel NC Retail Merchant Association.

Price gouging is when a business unreasonably raises the prices of goods or services to profit from the State of Emergency. Governor Roy Cooper announced the State of Emergency due to Hurricane Idalia. 

There is no definition in North Carolina of what is reasonable or unreasonable. If there is a claim of price gouging, the North Carolina Attorney General will look at two things:

How much did the retailer buy the item for/when and what they're selling it for now?

The price history of the item for a certain length of time. Here's an example.

“I put bottled water on sale for 2 for $4 it's my weekly special, I planned it six weeks ago. But now this week, water is $4 a bottle. I'm allowed to go back and say my water is $4 now. I'm not restricted, that's a special. The way the law reads, they have to look at the price for the item in the last 60 days,” said Ellen.

Here's the thing, 2WTK can't make the complaint for you. You're the consumer, so you make the complaint.

You can call 1-877-NO-SCAM or you can use the online form. The more info you have, the better. Make sure you have the name of the business and the location. If you have pictures or receipts, you can attach them to the complaint form.

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