Mark Griffin, president of the Michigan Petroleum Association says gas prices that jump 20 cents overnight are due to 'predatory pricing.' A practice where Griffin says big business gas stations undercut smaller gas station to the point where they lose money early in the week. Then as the weekend approaches, they jack up the price when the majority of people are traveling.
Griffin is trying to get a bill introduced which would stabilize state gas prices by limiting the amount a retailer can charge above the wholesale price.
A similar bill was introduced last session, but didn't survive. Lawmakers were not convinced the bill would do any good. This time Griffin says he has hard data, which should satisfy legislator's minds.
The bill still needs to be introduced in committee, passed by both the House and Senate, and then gain the governor's signature.
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