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Wisconsin |
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5/10/06-A bill that would have reduced the state’s minimum markup requirement for motor vehicle fuels has died.
The Senate voted 19-13 to send the bill back to committee for more study. The move effectively killed the bill – SB215.
Wisconsin law now requires markups of at least 9 percent to the price consumers pay for motor fuels, alcohol and tobacco.
The rule requires wholesalers to charge at least 3 percent more than they paid. Retailers in turn must add on at least 6 percent more.
Sponsored by Sen. David Zien, R-Eau Claire, and Sen. Tom Reynolds, R-West Allis, the bill would have eliminated the 3 percent markup for wholesalers and reduced the retailer markup to 4 percent, plus 3 cents per gallon.
It also would have prohibited the sale of fuel below cost, and prohibited the sale of fuel as a loss leader.
The Senate voted 19-13 to send the bill back to committee for more study. The move effectively killed the bill – SB215.
Wisconsin law now requires markups of at least 9 percent to the price consumers pay for motor fuels, alcohol and tobacco.
The rule requires wholesalers to charge at least 3 percent more than they paid. Retailers in turn must add on at least 6 percent more.
Sponsored by Sen. David Zien, R-Eau Claire, and Sen. Tom Reynolds, R-West Allis, the bill would have eliminated the 3 percent markup for wholesalers and reduced the retailer markup to 4 percent, plus 3 cents per gallon.
It also would have prohibited the sale of fuel below cost, and prohibited the sale of fuel as a loss leader.