St. Paul, MN - Today, Rep. Dan Wolgamott (DFL - St. Cloud) and Sen. Jordan Rasmusson (R - Fergus Falls) held a press conference on their legislation to repeal Minnesota’s minimum markup on gasoline (HF 1726/SF 1868).
“Minnesota’s consumer laws should protect consumers, not harm them,” said Rep. Wolgamott. “By repealing Minnesota’s minimum markup law, we can help facilitate lower gas prices while still maintaining protections against predatory pricing that harms competition.”
Minnesota’s minimum markup is currently the lesser of 8 cents or 6%. The majority of US states do not have minimum markup laws for gasoline.
“Repealing the minimum markup on gas is a bipartisan bill and an idea that has been proposed by both Minnesota Gubernatorial Candidate Scott Jensen and Wisconsin Governor Tony Evers,” said Sen. Rasmusson. “The Federal Trade Commission, our nation's anti-trust police, has opposed minimum markup laws like Minnesota's as being anti-consumer and leading to higher gas prices. By repealing this harmful law, we will legalize cheap gas, through a commonsense solution, and provide vital economic relief across our state.”
The legislation has already passed the House Commerce Committee with bipartisan support, and will have its first Senate hearing today, at 12:30pm, in the Commerce and Consumer Protection Committee.
A recording of today’s press conference is available on the Senate Media Services YouTube page.