Crisco highlights Dems’ plan to stabilize gas prices

Joseph Crisco

HARTFORD — Democrats in Hartford have proposed a legislative initiative aimed at helping stabilizing gas prices.

“Most Connecticut families require gasoline — despite high prices — to travel to work and school, and to shop and keep important appointments, so unfortunately other aspects of family budgets are squeezed when gas prices keep climbing,” state Sen. Joseph Crisco (D-17) said in a news release. “Our proposal will address gas prices directly, with a limit on the wholesale price to which the state tax would apply, and give the state attorney general and state Department of Consumer Protection more authority to investigate price gouging and profiteering.”

Crisco highlighted the six-point plan in the release. The Democrats’ plan would cap the 7 percent gross receipts tax on motor fuels at the first $3 gallon wholesale; prohibits oil wholesalers and distributers from passing on anything purporting to be based on the tax for the portion of any sales price over $3 per gallon; amends the petroleum profiteering statute to include an automatic trigger based on extreme wholesale price increases for price gouging protections to go into effect; legislatively declare an “abnormal market disruption” upon passage for a set period of one month in anticipation of further wholesale price spikes; grant the commissioner of the Department of Consumer Protection authority to impose CUPTA fines of up to $10,000 upon large gasoline wholesalers and distributors who are in violation of profiteering laws.