Governor Kathy Hochul and Attorney General Letitia James issued a joint warning Wednesday urging New Yorkers to remain vigilant against potential price gouging as escalating conflict in the Middle East threatens to disrupt global supply chains.
The alert follows recent U.S. military action in Iran, which state officials say could lead to “unreasonable” price hikes for essential goods, including gasoline, groceries, and pharmaceuticals.
“New York is stepping up to protect our residents from the too-frequent occurrence of consumer exploitation during emergencies or abnormal market disruptions,” Hochul said in a statement. “I am calling on all New Yorkers to report price gouging on essential products to ensure that we are holding unscrupulous actors accountable.”
State law prohibits businesses from taking unfair advantage of consumers by selling goods or services vital to health, safety, or welfare at unconscionably excessive prices during such disruptions.
Attorney General Letitia James emphasized that her office is prepared to investigate any reports of exploitation.
“There is no excuse for unfairly raising prices of essential goods and services that New Yorkers depend on,” James said. “With sudden increases in oil prices poised to drive up costs, I am encouraging everyone to be on the lookout for unreasonable price hikes.”
Officials warned that shipping delays and halted imports resulting from the geopolitical tensions could be used as a pretext for price spikes. New York Secretary of State Walter T. Mosley noted that while overseas events are beyond the state’s control, their impact on fuel and food costs is often immediate.
Under New York law, price gouging violations can carry civil penalties of up to $25,000 per violation.
The Attorney General’s office encouraged consumers who encounter suspiciously high prices to document the incident by taking photos of advertised prices and keeping sales receipts. New Yorkers can file complaints through the state’s online price gouging form or by calling the consumer fraid hotline.
