NJ Sues Oil Firms

NEW YORK (Reuters) - New Jersey's Acting Gov. Richard Codey on Monday said the state had sued Motiva Shell, Amerada Hess (AHC.N: Quote, Profile, Research) and Sunoco (SUN.N: Quote, Profile, Research) for overpricing gasoline after Hurricane Katrina shut much of the Gulf of Mexico's oil production and damaged refineries.

New Jersey motorists paid an average of $2.87 a gallon on Monday, according to the American Automobile Association.

State law bars gasoline stations from raising prices more than once every 24 hours, but Codey said multiple price changes had occurred within such a period. More...


Finally something is being done about the price gouging.

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