New York (WRGB) — Gov. Hochul and New York Attorney General Letitia James are urging residents to remain vigilant for potential price gouging on essential goods as tensions and conflict in the Middle East raise concerns about supply chain disruptions.
State officials say global instability, particularly involving Iran, could lead to delays in shipping and imports that may drive up prices for goods in the United States. That could impact the cost of items such as food, gasoline, pharmaceuticals and other consumer products.
Gov. Hochul said,
Following U.S. military action in Iran, New York is stepping up to protect our residents from the too-frequent occurrence of consumer exploitation during emergencies or abnormal market disruptions. I am calling on all New Yorkers to report price gouging on essential products from gasoline to groceries to ensure that we are holding unscrupulous actors accountable.
AG James said sudden increases in oil prices could lead to higher costs for consumers and warned that businesses should not take advantage of the situation.
James said,
There is no excuse for unfairly raising prices of essential goods and services that New Yorkers depend on. With sudden increases in oil prices poised to drive up costs for New Yorkers, I am encouraging everyone to be on the lookout for unreasonable price hikes and report price gouging to my office.
New York Secretary of State Walter T. Mosley also encouraged residents to report suspicious price increases, stating,
While events overseas are beyond New York’s control, they can affect the price of food and fuel costs. However, there is no excuse for businesses to take advantage of these circumstances to unfairly inflate prices. We encourage New Yorkers to help protect themselves and others by reporting suspected price gouging so that it can be investigated and appropriate action can be taken.
Officials say consumers who believe they have encountered price gouging should document the incident with receipts or photos and report it to the Attorney General’s Office using the state’s price gouging complaint form.