Shameless price gouging.
MARCH 10, 2020
In yet another shameless act of price gouging, a hardware store in New York is selling bottles of hand sanitizer for $109 dollars a pop.
Taking full advantage of the growing hysteria surrounding coronavirus, Scheman & Grant Hardware at Eighth Avenue and 38th Street is now selling 1200 ml bottles of Purell that normally retail for $5.49 for a gargantuan $79 dollars.
Meanwhile, larger 2 liter bottles of Purell are selling for $109 each.
The shocking prices are not deterring customers. The smaller bottles are flying off the shelves and the $109 bottles have sold out.
“Everyone who comes in the store buys them. We sold about fifty of those today,” one employee told the New York Post.
Mayor Bill de Blasio reacted by saying the situation sounded like price gouging and that he would be sending the Department of Consumer Affairs to “pay them a visit immediately.”
However, economist Peter Schiff said stores couldn’t be blamed for hiking prices in times of massive demand.
“People are raising prices for certain supplies. Well of course,” Schiff said. “Demand’s going up. Of course you’re going to raise prices! What are you supposed to do? If you don’t raise prices, all of your stuff is going to get bought by a few people who are then going to hoard it or resell it on the black market. Prices are a rationing mechanism.”