Residents Question Spike in Gas Prices

Earlier this week, some residents in Murray received a bit of a shock at the gas pump. Thursday morning, the price per gallon was listed at $2.98 at Kroger, but later in the day, the price had increased significantly, to $3.29 per gallon. This spike left some drivers steaming, and wondering why the increase was so large. Some wondered if the increase constitutes price gouging.

So does it?

Kroger corporate representatives have not responded to repeated requests for comment, but the office of Kentucky Attorney General Jack Conway did respond.

A Conway spokesperson says that, under Kentucky law, unless the governor has declared a state of emergency, businesses may charge whatever they choose. The price consumers will pay is "what the market can bear." If the governor has declared a state of emergency and prices are well above average market prices, then instances of possible price gouging may be investigated.  

A Conway spokesperson says similar spikes in gasoline prices are being reported throughout the state of Kentucky, and says it's most likely due to the July 4th holiday.