Feb. 15, 2005 – The Licensing and Consumer Affairs Department has levied the first fines against gasoline sellers who have failed to file required reports in keeping with the price cap order on fuel sold in the territory.
Gasoline wholesalers and retailers are required to provide invoices and receipts to DLCA showing what they paid to purchase gasoline and what the sold it for during a month-and-a-half period.
"They are simple forms," Andrew Rutnik, commissioner of DLCA, said Tuesday. "They need to show us receipts for what they paid and what they sold," during the reporting period, which is the last two weeks of December 2004 and the entire month of January 2005.
In October Rutnik announced the profit cap of 30 cents per gallon for wholesalers and 35 cents on retail sales. As part of the Gross Profit Margin Order, as the directive is known, wholesalers, importers and retailers were required to file the forms.
Thirty-nine of them didn't and have been accumulating fines of $200 per day since Feb. 7, according to a release from DLCA. The fines have reached "$50,000 and still counting," the release said.
And that's just the beginning. Those who are found in violation of the price cap can be fined $200 a day for every day they were in violation. They can also be ordered to refund the over earnings in the form of rebates at the pump where the consumer will benefit, Rutnik said Tuesday.
Or if the violations continue, "we can revoke their licenses," Rutnik said.
He did not name the specific businesses that are in non-compliance, but did say 38 eight are retailers, one is a wholesaler.
He said if they continue to ignore the order he will start naming names.
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