As fears of higher gas prices surface, the Michigan Attorney General's office issued a statement on Tuesday regarding the practice of gas gouging.
"As Labor Day weekend nears, Tropical Storm Isaac, combined with other factors, will likely result in higher prices at the pump,” said Schuette. "These circumstances are not a free pass for price gouging. My office monitors gas prices closely, and we will not hesitate to take action if evidence of price gouging surfaces."
Schuette's office says they will monitor profit margins and actual cost of gasoline and will investigates any price gouging claims.
Under the Consumer Protection Act, a retailer may not charge a price that is in excess of the prices at similar establishments.
Anti-trust laws also prohibit gas stations from entering into agreements to fix prices.
In December of 2011 five gas stations in the Madison Heights area were found guilty of price fixing based on a consumer tip.
To contact the Attorney General's Consumer Protection Division call 1-877-765-8388 or you can file an online complaint
For more information on gas prices in Michigan visit the Attorney General Schuette’s Consumer Alert.