News from the Oklahoma Corporation
Commission
Phone: (405)
522-2100, FAX: (405) 522-1623, www.occ.state.ok.us
September 13,
2001
NEW INFORMATION ON GASOLINE PRICING AS
CORPORATION COMMISSION DOES ALL IT CAN TO FIGHT PRICE GOUGING
(Oklahoma City) – As
Americans work to rebuild from the heinous and cowardly terrorist attacks on
our great nation, it appears the acts of a few gasoline retailers have set off
a panic among Oklahomans with efforts to dramatically increase prices. There
have been reports from consumers of a
handful of retailers around the state trying to double the price of their
gasoline. Any suspected gouging should be reported to the state Attorney
General at 405-521-2029.
Conoco, which has a large
number of retailers in Oklahoma, indicates in a release this week that its
gasoline prices will remain at pre-attack levels. Richard Severance, President
of Conoco’s U.S. downstream operations said overall, ample supplies are
available and he discouraged panic buying which could lead to local shortages.
Severance said Conoco will continue to exercise “common sense and restraint” in
pricing decisions.
Gasoline is a commodity
which reacts to uncertainties in the market. Such uncertainties may include the
consistency of oil supplies from the Middle East and what actions the United
States may take to respond to the terrorism.
The Corporation Commission
has no authority to regulate the price of gasoline but in an effort to do
everything possible to help prevent Oklahomans from being gouged, Commission
Chairman Denise Bode said “Along with the Governor, I contacted representatives
of the Oklahoma Fuel Marketers and Refiners to urge restraint in this time of
national crisis. In addition, the Commission’s Petroleum Storage Tank Division
has been contacting gasoline retailers across Oklahoma to make sure they are in
strict compliance with all rules including the posting of fuel prices, pump
calibration and quality of fuel.”
Commissioner Bob Anthony
said “All of the Commission’s fuel inspectors are and have been in the field
addressing the problem to the best of their ability. The inspectors are
watching for stations where the price is not conspicuously posted at the pump
and where the advertised price is not the same as the pump price on the
facility’s marquee and remote billboards.”
In addition to the correct
and prominent posting of the price, Commissioner Ed Apple said “Commission fuel
inspectors will continue to keep a close eye on the quality of the fuel and the
calibration of the pumps to be certain Oklahomans get the proper value for
their money.”
-occ-
All news releases and advisories are available for downloading and review from the OCC web site at www.occ.state.ok.us