It is a fundamental truism of economics that when supplies go down, prices go up. But sometimes the law steps in to damper price increases. One such instance is §17.46(b) of the Texas Deceptive Trade Practices-Consumer Protection Act which provides that it is a false, misleading or deceptive act or practice to take advantage of a disaster declared by the Texas Governor under Chapter 418, Government Code, by:
- Selling or leasing fuel, food, medicine or another necessity at an exorbitant or excessive price; or
- Demanding an exorbitant or excessive price in connection with the sale or lease of fuel, food, medicine or another necessity. More.