This is just too ridiculous:
As for the anti-price-gouging legislation proposed by Governor Bill Richardson, it is in its 10th version. The current version considers gas prices of 10 percent to 15 percent over average area prices as being the level at illegal gouging would occur.
What is Governor Richardson thinking? If gas prices are $2.50 and they are raised a quarter to $2.75, then a business owner would be criminally liable? This is insane. What if it is an independent, locally owned gas station that is struggling to compete and raises it’s prices to keep from going out of business. Does the owner now face legal proceedings on top of their business troubles.
Imagine this application to other businesses. Giants like Costco and Walmart continue their expansion in the New Mexico market, and their volume brings down the average area prices. Does a local competitor that decides to compete by improving service and slightly increasing prices, let’s say by 10%, qualify as a “price gouger”?
This is a turkey of a law, and the fact that it’s in its 10 revision should be a clue that it should just be left to die.