Minimum Markup Law Adds 8 Cents Per Gallon

It’s not cheap.

Madison - A Depression-era state law adds about 8 cents for every gallon of gasoline purchased in Wisconsin, costing the state’s drivers as much as $278 million more a year, according to a report to be released today.

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The law requires a 9.18% markup, which would be 30.2 cents a gallon when the wholesale price of gas is $3.29. Without the law, retailers would mark up gas about 22 cents a gallon as their share of the sale, according to the report. So the law means gas here costs 8 cents higher than it otherwise would.

“The fact that minimum markup climbs at the same rate that wholesale gas climbs is a double whammy for consumers,” said Christian Schneider, senior fellow at the institute.

Can Wisconsin repeal this ridiculous law now?