POND ISLAND - Minister of Economic Affairs Mellissa Arrindell Doncher is warning business establishments not to engage in price gouging (sudden increase in prices) with the threat of Hurricane Irma to the island.
The Minister said she has received reports that this is already happening and has responded by dispatching controllers from the Department of Economic Controls to determine if there is indeed price gouging occurring.
The controllers will be conducting controls the entire weekend and until the storm passes St. Maarten. If a business is found to have increased their prices, the proper measures under the law will be taken.
Price gouging is a term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent.