Contact: Dave Steuber
March 20, 2012
With the price of gasoline climbing and the summer driving season around the corner, State Senator Bob Duff (D-Norwalk) is throwing his support behind a plan to help provide relief at the pump and protect consumers from profiteering and price gouging by big oil wholesalers.
“In this economy, the exorbitantly high price of gas is a burden for working families,” Senator Duff said. “This comprehensive plan attempts to rein in gas prices, but more importantly it ensures big oil companies cannot take advantage of consumers by artificially inflating gas price to fill their own pockets.”
The price of gasoline is up 15 percent since Jan. 1, 2012 and could rise as high as $5 a gallon by the middle of the summer.
The Democrats’ plan:
Moderate- and lower-income families feel the rising price of gasoline especially hard. According to a recent report by the Brookings Institute:
“Every dollar increase, holding the number of miles driven constant, would cost these moderate- and lower-income households an extra $530 per year. For a family with an annual income of $20,000, this is an additional 2.7 percent of their total income. Although higher gas prices eventually encourage consumers to cut back on driving or switch to more fuel-efficient vehicles, in the short-run they may have few options but to cut back on other expenditures in the family budget. Since low- and moderate-income families spend most of their income on average, in the very short run they can only choose between spending less on other items and going further into debt.”
This feels like the perfect storm, said Gloria McAdam, President and CEO, Foodshare. “More people need food because of rising gas prices. And Foodshare is challenged in getting more food to people who need it because of those same rising fuel prices. Any relief the state can provide will be welcomed by both working families and the nonprofit organizations, like Foodshare, that are striving to help those working families.
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Hartford, CT 06106-1591
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