Oil Spill Won't Up Gas Prices
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Many people are worried gas prices will skyrocket because of the oil spill, but gas experts say prices should remain the same.
As President of the Louisiana Oil & Gas Association Don Briggs says, "prices are based on supply and demand, and the supply of oil is not being impacted by the spill."
Governor Bobby Jindal's declaration of a state of emergency means Louisiana's laws against price-gouging are now in effect.
The laws prohibit raising any prices above pre-emergency levels unless there is a spike in the price of doing business.
One local Chevron station is looking on the bright side, though. If customers are worried about other stations raising prices, they see this as a chance to gain popularity:
"That's an absolute opportunity for us to show our customers our loyalty to them-- when you keep your prices low you keep your customers coming back," says employee Ted Francis.
The price gouging laws carry both civil and criminal penalties, so suspected price gougers should be reported.
If you suspect price gouging, you can call the Louisiana Attorney General's Office at 800-351-4889.
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