BOSTON (CBS) – Massachusetts Secretary of State Bill Galvin wants an investigation into soaring gas and oil prices and possible price gouging.
"They have a right to a profit, they don't have a right to an exorbitant profit," Galvin told WBZ-TV. "Right now, here in Massachusetts, we should be scrutinizing the prices of wholesalers. We should be looking at the price of home heating oil. How did you get that price? You're entitled to a fair profit, you're not entitled to gouge. You're not entitled to take advantage of an international situation."
According to AAA, the average price for a gallon of gasoline in Massachusetts set a new record Tuesday at $4.24. Prices have been rising rapidly since Russia invaded Ukraine last month. A month ago, a gallon of gas in Massachusetts cost $3.46.
Galvin believes suppliers might be taking unfair advantage by charging too much and he wants state lawmakers to look into it.
"Not an ounce of fuel that's being sold here either for heating or gasoline right now was taken out of ground after the invasion of Ukraine. The pricing practices have to be reviewed," he said.
"We have some of the best consumer protection statutes in the country. We need to use them. We need to use them now," Galvin told WBZ. "Let's look at the prices. Let's go in and examine the books and records of the suppliers and wholesalers. If they have nothing to hide then we'll know that."
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