NY bans ‘zone pricing’ schemes for fuel
ALBANY, N.Y. — A bill that bans price gouging based on area demographics was signed by New York Gov. David Paterson.
According to local media, the law prohibits the use of so-called "zone pricing” as a marketing device for gasoline and diesel. Oil companies reportedly use geographical price zones based on the demographics or affluence of a certain area.
The practice translates to higher fuel prices for those who are assumed to be able to pay more.
Any company found to be in violation could face penalties of up to $10,000.
The new law will take effect in 60 days.
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