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Va. Retailer Settles With AG Over Prices Lynchburg-area station to reimburse customers, donate to Red Cross
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RICHMOND, Va. -- Virginia attorney general Bill Mims today announced a price gouging settlement with Chamberlayne Enterprises Inc., doing business as Timberlake CITGO, a gas station in Campbell County. The settlement relates to allegations that Timberlake CITGO violated the Virginia Post-Disaster Anti-Price Gouging Act by charging "unconscionable" prices for gasoline after Governor Tim Kaine declared a state of emergency on Sept. 10, 2008, as Hurricane Ike approached the Gulf Coast.
The settlement, technically known as an Assurance of Voluntary Compliance, has been filed with the Circuit Court in Campbell County.
"Virginia's Post-Disaster Anti-Price Gouging Act leaves room for standard market forces to work in times of disaster and prohibits only the charging of unconscionable prices for necessary goods and services during those rare times," Mims said. "I am hopeful this settlement will send the message that we intend to enforce our statute. We will continue to do so in a reasonable and fair manner."
In the complaint filed along with the assurance, the AG alleges that certain prices Timberlake CITGO charged for gasoline on the evening of Friday, Sept. 12, 2008, and the morning of Saturday, Sept. 13, 2008, were unconscionable as grossly exceeding the price the station charged during the 10 days immediately before the declaration. Specifically, the complaint alleges that the following price the station charged during these periods was unconscionable: the regular gasoline price of $5.399 charged represented a 55% increase over its September 8 price of $3.479.
The settlement enjoins Timberlake CITGO from engaging in any of the practices alleged to violate the Virginia Post-Disaster Anti-Price Gouging Act, and the Virginia Consumer Protection Act, and requires Timberlake CITGO to set aside $200 for consumer restitution. This amount is based, in part, on sales transaction receipts Timberlake CITGO provided identifying the individual gasoline transaction sales made September 12 and 13 at the price deemed unconscionable.
The settlement requires Timberlake CITGO to provide notice to its customers that they may be eligible for restitution by posting signs on its front door and on each individual gas pump. It also requires the company to identify credit and debit card customers who purchased gasoline at the prices and on the dates noted above and to credit a refund to their credit or debit cards for the appropriate amount of the overcharge.
The settlement further requires Timberlake CITGO to pay $1,500 to reimburse the Commonwealth for its costs, investigative expenses and attorneys' fees in this matter. And the settlement requires Timberlake CITGO to make a contribution of $500 to the American Red Cross Disaster Relief Fund. This payment is in lieu of a payment of civil penalties.
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In the complaint filed along with the assurance, the AG alleges that certain prices Timberlake CITGO charged for gasoline on the evening of Friday, Sept. 12, 2008, and the morning of Saturday, Sept. 13, 2008, were unconscionable as grossly exceeding the price the station charged during the 10 days immediately before the declaration. Specifically, the complaint alleges that the following price the station charged during these periods was unconscionable: the regular gasoline price of $5.399 charged represented a 55% increase over its September 8 price of $3.479.