Sometimes the little devil that sits on my left shoulder has a clever idea.
VA Dems want Gov Youngkin to declare a State of Emergency over gasoline prices so the State’s Anti-Price Gouging law would be in effect. During a State of Emergency, merchants can be fined and even jailed for charging the poorly defined “unconscionable price” for necessary goods like gasoline.
The little devil wants him to give them what they want to teach a lesson.
Gasoline stations use “last in, first out” accounting in setting prices. That way they can afford to replace the gas they sell. But gasoline bought earlier by the merchant was less expensive so during the rising price phase of a spike, the profit margin based on ‘first in, first out’ would be enough to make the “unconscionable price” definition.
So, merchants will predictably sell what they have and then shut down, at least long enough to establish a new base, rather than find themselves on front of a jury trying to explain accounting conventions. Instead of expensive gas, we will have no gas.
The angel on the other shoulder hopes Youngkin will refuse and save the Democrats from their own stupidity, but…