increase in the price of petroleum products resulting from
severe weather, convulsion of nature, supply manipulation,
failure or shortage of electric power or other source of energy,
strike, civil disorder, act of war, terrorist attack, national
or local emergency or other extraordinary adverse circumstances.
"Petroleum product." A motor fuel, liquefied petroleum gas
and fuel oil.
"Petroleum-related business." A producer, supplier,
wholesaler, distributor or retail seller of a petroleum product.
* * *
Section 2. The act is amended by adding a section to read:
Section 4.1. Petroleum price gouging.
(a) Prohibition.--It shall be a violation of this act for a
petroleum-related business to alter the price of a petroleum
product or derivatives of a petroleum product more than once
within a 24-hour period.
(b) Market emergency.--A market emergency may be declared by
the Governor and shall continue for 30 days or until terminated
by the Governor. The Governor may extend the market emergency
for additional 30-day periods.
(c) Violation of market emergency.--It shall be an unfair
and deceptive act and practice in commerce and a violation of
this act for a petroleum-related business, during a market
emergency or seven days prior to a market emergency, to sell or
offer to sell a petroleum product or heating fuel product for an
amount that represents an unconscionably excessive price. For
the purposes of this subsection, an unconscionably excessive
price includes the price at which the same or similar petroleum
product is readily obtainable by the buyer and other buyers in
the trade area in which the petroleum-related business markets
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