I think there is a difference between a market increase in prices such as $3.50 a gallon gas and price gouging. The state law in Florida says a price increase has to be unconscionable. It's rare for a case to be prosecuted, but it does happen.
"The state law in Florida says a price increase has to be unconscionable"
Which is pretty moronic, since it leaves "unconscionable" up to the AG and whatever jury they can rip into a frenzy.
As long as it's private enterprise doing the selling, the state should keep their incompetent hands off. As much as people want to think they're forced to buy things, they can walk away if they choose - or plan ahead to have emergency supplies of fuel.
But as we're seeing in new orleans, when you expect people to show some foresight for themselves, you get called names.
An "unconscionable price" would be negotiating with a drowning person the price of a life ring prior to tossing it to him. It's not simply raising the price of gas to $5.00 a gallon to stop the line of cars from backing up the off ramp onto the interstate.
But the only meaningful definition of an "unconscionable price" is "a price people are unwilling to pay". If the true market price is $3.50 per gallon, and the gas station down the street charges an unconscionable $15.00 per gallon, nobody's going to buy that station's product. So what's the point in regulating against it? And who is harmed if somebody charges that much? If somebody charges $200.00 per gallon, is that worse? How about a "closed" sign instead, or a "no gas" sign...better, or worse for the consumer?
Who gets to decide what is unconscionable? These laws are bad. The market will decide.