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Kressig Named to Committee to Investigate Soaring Gas Prices

DES MOINES, Iowa - Iowa is one of several states that is taking a hard look at the puzzling rise in gas prices. Iowa Rep. Bob Kressig (D-Cedar Falls) and board member of $1 billion John Deere Community CU (JDCCU), has been appointed to the state's Motor Vehicle Fuel interim...

By Michelle A. Samaad | Updated on September 06, 2005

DES MOINES, Iowa – Iowa is one of several states that is taking a hard look at the puzzling rise in gas prices. Iowa Rep. Bob Kressig (D-Cedar Falls) and board member of $1 billion John Deere Community CU (JDCCU), has been appointed to the state’s Motor Vehicle Fuel interim committee. The new committee will investigate issues relating to the sale of motor vehicle fuel, including minimum markup, selling below cost, and limiting quantities of gasoline. The committee has found that the state of Hawaii recently set the nation’s only government-imposed limits on gasoline prices. As of Sept. 1, the maximum pre-tax price wholesalers can charge for regular in Honolulu is about $2.16 a gallon. That equates to $2.74 a gallon when taxes are added. The wholesale cap, which excludes any retail mark-up, is slightly less than the average retail price of nearly $2.76 a gallon for regular gasoline in Honolulu, the committee said citing data from the AAA Daily Fuel Gauge Report. -

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