Gas Prices Hit $8 in Jersey, Pennsylvania

by Alyssa Oursler | September 12, 2012 12:41 pm

Gas prices have been on the rise for everyone lately, as they hit seasonal highs[1] and made the highest single-day jump[2] in over a year heading into Labor Day weekend.

But if you thought that prices pushing or topping $4 was high … well … think again.

At more than 50 gas stations in New Jersey and Pennsylvania, prices are double that number[3]. And in this case, there’s no hurricane or refinery fire to blame.

Instead, the stations jacked prices to $8 a gallon in order to protest and raise awareness about “unfair pricing practices” by Lukoil North America.

Lukoil (PINK:LUKOY[4]), Russia’s second-largest oil producer, first came to the states just under a decade ago and supposedly forces dealers to pay substantially higher prices than what competitors charge.

The decision to protest began in New Jersey, as gas stations displayed banners and handed out flyers urging customers to contact Lukoil.

Dealers in Pennsylvania soon heard about efforts and joined it, The Associated Press reports.

Lukoil North America, though, has yet to comment or respond.

Endnotes:
  1. hit seasonal highs: http://investorplace.com/2012/08/record-gas-prices-a-state-by-state-look/
  2. highest single-day jump: http://investorplace.com/2012/08/gas-prices-jump-in-time-for-labor-day-weekend/
  3. prices are double that number: http://money.msn.com/business-news/article.aspx?feed=AP&date=20120912&id=15549596
  4. LUKOY: http://studio-5.financialcontent.com/investplace/quote?Symbol=LUKOY

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