Krist Oil Co. Settles Pricing Suit

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Krist Oil Co. Settles Pricing Suit

MADISON, Wis. -- Michigan-based Krist Oil Co. was ordered to pay a $4,000 settlement over allegations that it illegally raised gas prices in Wisconsin after Hurricane Katrina hit, state Attorney General J.B. Van Hollen told The Associated Press earlier this week.

The state Justice Department alleged that Krist Oil Co. of Iron River, Wis., raised posted gas prices more than once a day in the cities of Neenah, Peshtigo, Marinette, Eagle River, Lakewood and Superior, Wis.

State law permits gas wholesalers and retailers to change prices once in 24 hours. Each violation is punishable by up to $200 in forfeitures.

The settlement is the most recent of seven agreements the state Justice Department has reached with gas suppliers, including Bulk Petroleum Corp., Lang Oil Inc. and SuperAmerica LLC, over 24-hour rule violations following Katrina, agency spokesman Kevin St. John told the AP.