Ky. AG Accuses Marathon Of Gas Price Gouging

Law360, New York (May 13, 2011, 8:00 PM EDT) -- Kentucky's attorney general accused Marathon Petroleum Co. LLC on Friday of price gouging following massive flooding in the state, and requested a temporary injunction that would prevent the company from raising gas prices during the emergency.

Kentucky Attorney General Jack Conway said Marathon violated a state price-gouging law triggered when the governor declared a state of emergency on April 26 after heavy rains caused the Mississippi River to swell to historic levels.

"Gas prices jumped about 30 cents overnight," Conway said in a statement. "The tips...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.