ATLANTA - Governor Sonny Perdue signed an Executive Order today enacting Georgia's price gouging statute to protect Georgia consumers from unlawful increases in gas prices and other products. The Governor's Office has received today credible evidence that price gouging has occurred in parts of the state.

"We will not tolerate the exploitation of Georgia consumers as we recover from the effects of Hurricane Katrina," said Governor Sonny Perdue. "Violators of this price gouging statute will be punished to the fullest extent possible."

Citizens are asked to report any suspected incidences of price gouging to the Georgia Office of Consumer Affairs at (404) 651-8600 or (800) 869-1123. Any violators of Georgia's price gouging statute will be punished to the fullest extent of the law.

Georgia's price gouging statute prevents retailers from selling goods or services at an unreasonable or egregious price. Georgia's price gouging statute does not prevent price increases that accurately reflect an increase in the cost of the goods or services to the retailer, an increase in the cost of transporting the goods or services into the area, or an increase due to the market forces of supply and demand.

For example, a retailer may increase the price of their products as is necessary to replenish their existing daily stock at current market rates, maintaining the same markup percentage he or she applied prior to the enactment of the price gouging statute.

PV Question: Is there a legal definition of "unreasonable or egregious price" or is this a question to be decided by juries? Just wondering...