Thursday, September 08, 2005

U.S. Congressional Hearing: Banks profiteering from record high gas prices

William Shipley, CEO of Shipley Stores LLC, represented NACS and the Society of Independent Gasoline Marketers testified on Sept 6th before the U.S. Senate Committee on Energy and Natural Resources (PDF) regarding "gasoline prices and factors contributing to current high prices."

One of the recommendations during the Sept 7th testimony before the U.S. House of Representatives Committee on Energy and Commerce (PDF) on behalf of the NACS and SIGMA was to urge the House Committee on Energy and Commerce and the United States Congress to "investigate the pricing policies of credit card companies, whose charges make up an ever increasing portion of the price of gasoline at retail outlets, particularly when gasoline prices are high."

Source: National Association of convenience Stores