The huge increase in the price of gasoline in the wake of Hurricane Katrina has Attorney General Jay Nixon vowing to determine whether Missouri consumers are being gouged at the pump. Nixon says that while he cannot do anything about legitimate price increases, he can take action if profiteering is going on as a result of irregular hikes in profit margins. Nixon says it’s understandable if prices to retailers go up and they pass the increase along to consumers. What he’s concerned with is possible profiteering on the part of some retailers – an increase in the profit margin in which retailers are making profits above and beyond the added costs.
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