South Carolina bill hopes to cap gas prices

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Posted: 3:46 PM Apr 27, 2011 South Carolina bill hopes to cap gas prices A North Myrtle Beach legislator has introduced a bill that would cap gas prices in South Carolina at whatever the average wholesale price is on June 1. The proposal is a long shot. Reporter: Staff Email Address: newsroom@wrdw.com

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Wednesday, April 27, 2011

COLUMBIA, S.C. (AP) -- A North Myrtle Beach legislator has introduced a bill that would cap gas prices in South Carolina at whatever the average wholesale price is on June 1.

Democratic state Sen. Dick Elliott of North Myrtle Beach said the bill he introduced Wednesday is needed because gas prices are slowing the state's economic recovery.

Elliott's bill would put any excess charges by retailers above the wholesale gas price into a trust fund. The Legislature would decide how to use the money to benefit citizens.

The proposal is a long shot. Monday is the deadline for bills to get to the House to be considered this year.

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Source: U.S. Department of Energy