By Tony McVeigh
Frankfort, KY – An economic expert for the Kentucky attorney general's office says recent gasoline price hikes imposed by Marathon Petroleum can't be justified. Peter Ashton says he could find no basis for price hikes of 30 to 40 cents per gallon during a state of emergency declared on April 26th. "If one observes increases in gasoline prices during the declaration period without commensurate increases in costs, this would lead to further increase in profits over and above profit levels that were already significantly higher than one would expect to observe normally." But an expert for Marathon says the price hikes were necessary for the company to remain competitive, were not excessive, and were accompanied by price declines. The state wants Franklin Circuit Judge Thomas Wingate to order Marathon to restore gas prices to pre-emergency levels, but Wingate made no immediate ruling.