By Gerardo R. Partido
Variety News Staff

THE Attorney General’s Office has warned Guam businesses about price gouging in view of Typhoon Kong-Rey, which is expected to have its closest point of approach to Guam today.
Although Guam is not expected to bear the brunt of the typhoon, the AGO said price gouging in a time of disaster is prohibited by Guam law. 
“It shall be an unfair trade practice for any merchant or landlord to increase the price of any goods, services, or dwelling rentals on the basis of a shortage anticipated or caused by any disaster,” the AGO said in an advisory sent yesterday.
The AGO is urging all island consumers to take note of the current price of their purchases so that they can compare from previous purchases or have a reference for future purchases.
Because of the typhoon’s approach, island residents have been scrambling to stock up on canned goods, propane cooking gas, bottled water, and gasoline.
According to the AGO, Guam law regulates merchants’ prices not only during the time leading up to a typhoon, but also after typhoons.
Whenever Guam goes into Condition 1 or 2, prices of all wholesale and retail goods are automatically frozen until after 72 hours after the island goes back into Condition 4.
The island was under Condition 2 yesterday.
The AGO considers “normal” prices of goods to include all the increased import costs for all goods brought in by sea transport or air freight.
Merchants found in violation of the price gouging law shall be subject to damages, penalties and other liabilities equal to three times the amount of gross profits on all overcharged goods or five times the amount of overcharges for services, in addition to all other damages and remedies allowed by law.
In addition, price gougers may be temporarily or permanently restrained or enjoined from further violations of the price gouging law and may be forced to post bond.
Consumers believing that a merchant may have violated Guam’s price gouging law may file a complaint with the AGO by calling 475-3324 ext. 130 or ext. 171.
The AGO urges consumers to provide as much documentation as possible, including keeping their receipts.