Published: Fri, September 01, 2017
Markets | By Erika Turner

Texas AG receives hundreds of complaints about price gouging

Texas AG receives hundreds of complaints about price gouging

On their website, the Office of the Attorney General describes price gouging as "selling or leasing fuel, food, medicine or another necessity at an exorbitant or excessive price" or "demanding an exorbitant or excessive price in connection with the sale or lease of fuel, food, medicine or another necessity".

"One Houston resident sent me a pic of water he saw being sold for *$42 h3 *Popular Video This young teenage singer was shocked when Keith Urban invited her on stage at his concert". People were disgusted, to say the least.

Best Buy said in a statement it was "a big mistake" made by a few of its employees. We're sorry and it won't happen again.

Meanwhile, some businesses sold water bottles for $8.50 each and cases for $99, Lovvorn said. An employee priced it by multiplying the price of a single bottle of water, the spokesman said.

The penalty for price gouging in Texas is a fine of up to $20,000 per infraction.

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Vistara too announced on its Twitter feed late night it has extended the waiver for Thursday as well. Chief Minister Devendra Fadnavis tweeted , asking people to stay home unless there is an emergency.

Price gouging can be costly for companies.

"If you're a business, you can be put out of business by the Texas attorney general if you dare try any price gouging", he said, adding, "It's un-Texan, and we will not tolerate it".

'We are getting photographs of a high price, but a receipt proves that someone is really charging it, ' Jim Davis, Deputy Attorney General for Civil Litigation toldKVUE. "Is it and should it be a legal issue as well?" the CNBC host asked. Some hotels in Texas jacking up hotel prices six and seven times their normal rates.

The Attorney General shot back that the law is in place for a reason and that he was going to enforce it.

"Every state's attorney general will be watching to make sure that there's no price gouging going on", he said, adding that all who are considering raising prices inappropriately "need to watch out". "So that was a decision that they made and we're enforcing it".

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