SR93

A Senate Resolution urging the Attorney General to investigate whether price-fixing has contributed to the escalation of motor fuel prices in March 2026.

Whereas, Motor fuels are an essential commodity for residents and businesses of this State, and it is vital to the health, safety, and welfare of these residents and businesses for motor fuels to be reasonably priced; and

Whereas, The average national price of regular unleaded gasoline on March 12, 2026 was $3.60 a gallon, which is substantially higher than the $2.95 a gallon that consumers had been paying for regular unleaded gasoline just one month earlier; and

Whereas, On March 12, 2026, regular unleaded gasoline was selling in New Jersey at an average price of $3.51 a gallon, which is substantially higher than the $2.93 a gallon that consumers in New Jersey had been paying for regular unleaded gasoline just one month earlier; and

Whereas, These extraordinary price increases have caused great hardship for residents of this State, many of whom are already struggling because of the steadily increasing cost of living; and

Whereas, Sudden large increases in the price of motor fuels most significantly impact individuals with a low income and those on fixed incomes; and

Whereas, The dramatic increase in the price of motor fuels will have a direct, serious, and substantial impact on both the New Jersey and national economy; and

Whereas, While global events may have influenced the exorbitant increase in the price of motor fuels, anticompetitive behavior by petroleum companies and speculators involved in the buying and selling of motor fuels, such as conspiring to increase profits, fix prices, and create artificial shortages at the expense of the public, also can lead to exorbitant price increases; and

Whereas, The public deserves transparency and accountability to ensure that anticompetitive behavior is not contributing to the increased price of motor fuel, and, accordingly, it is in the public interest for the Attorney General to investigate possible price-fixing in the sale of motor fuels; now, therefore,

Be It Resolved by the Senate of the State of New Jersey:

1. The Attorney General is urged to undertake an investigation to determine whether price-fixing, or other anticompetitive conduct, in the sale of motor fuels has contributed to the escalation of motor fuel prices in March 2026 and is to report the results of the investigation to the Governor and Legislature at the earliest possible date.

2. Copies of this resolution, as filed with the Secretary of State, shall be transmitted by the Secretary of the Senate to Attorney General.

STATEMENT

This resolution urges the Attorney General (AG) to undertake an investigation to determine whether anticompetitive conduct, such as price-fixing, has contributed to the increased cost of motor fuel in New Jersey and throughout the United States as of March 2026. The AG is also urged to report the results of the investigation to the Governor and Legislature at the earliest possible date.

The average price of gasoline has increased 65 cents and 58 cents across the United States and in New Jersey, respectively, over the past month. These extraordinary increases cause significant hardship for the residents of the State, especially those with low incomes and those on fixed incomes. Global events may have influenced the exorbitant price increases in motor fuels; however, it is important for the public to know whether price-fixing, or any other anticompetitive behavior, has contributed to the increased prices.