A new law in New York calls for fuel companies to be fined for pricing gasoline and diesel higher in certain areas. It takes effect Nov. 25.
Gov. David Paterson signed a bill into law to prohibit establishing price zones based on demographics. Fuel companies found in violation would face fines up to $10,000.
Supporters say the protection is needed because petroleum companies use “zone pricing” to boost fuel prices in areas where there is limited competition.
“We’re continuing to see sky-high prices for (fuel),” Sen. James Alesi, R-Perinton, said in a written statement. “One of the underlying contributors to the high (fuel) prices, especially in upstate New York, is a little known practice known as ‘zone pricing.’ ”
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