New York warned on price fixing and LPG shortages
New York’s attorney general has issued a consumer alert warning of potential price fixing and delivery delays for propane customers.
A.G. Eric Schneiderman issued the alert encouraging anyone who experiences excessive delays or possible price gouging to contact his office. The alert came after the A.G.’s office received complaints from consumers.
Attorney General Schneiderman said: “No New Yorkers should have to freeze in this weather, and my office is looking into cases of unacceptable delivery delays and potential price gouging.
“Any New Yorker being overcharged or left in the cold without propane should contact my office immediately.”
The U.S. energy industry has been braced for a major test to refineries and power plants as an intense winter storm roared up the Atlantic Coast, bringing heavy snowfall and high winds to a region already beset with several days of extreme cold.
The storm is the product of a rapid and rare sharp drop in barometric pressure known as bombogenesis, or bomb cyclone.
Heavy snow has pounded the East Coast along a front stretching from Maine to North Carolina this month, knocking out power, icing over roadways and closing hundreds of schools.
According to Reuters, prices for heating oil HO-NYH HO-DIFF-NYH and natural gas in the U.S. Northeast hit their highest levels in years on the back of near-record heating demand. Benchmark U.S. heating oil futures are near the highest in almost three years.