Prime Minister Dr. Hubert Minnis during his communication in the House of Assembly Wednesday morning revealed that several businesses and supermarkets were found participating in price gouging and will be penalized.

Prior to the passing of Hurricane Irma, a strong advisory was issued warning businesses and Bahamians alike of the repercussions of their actions if found hiking prices of essential hurricane items throughout the country.

“I urged the commission to report any suspected violation to The Office of The Attorney General and it has in consultation with The Director of Prosecution and the Royal Bahamas Police Force (RBPF) committed to aggressively investigate any information which might indicate any of the elements that is termed price gouging and to act accordingly should such evidence be found,” he said.

“I note and I’m happy to report that several individuals and supermarkets have been referred to The Attorney General and God’s willing, I hope they are prosecuted.”

The government specifically pointed out that additionally, the hoarding of items for speculation or profiteering as well as the marking up of prices by retailers and wholesalers in the event of a potential natural disaster were criminal offences under the terms of the Price Control Act.

“We instructed the prices commission to commence a program of strict supervision reviewing and monitoring of the prices being charged by the mentioned essential items,” he said.

While details of specific businesses or supermarkets were not given, The Bahama Journal  learned  that there may have been price gouging in Grand Bahama as well.

A source who wished to remain anonymous said she went to buy a three pack box of cereal while in Freeport, Grand Bahama which totaled $17.63 exactly.

This she said was unacceptable and “hopes they are penalized.”

“The price of that cereal is not that high, they have to get in trouble for that.”

A fine of $8,000 could be given to those persons and businesses who are accused of hiking prices for profit.