Houston Best Buy Apologizes For Price Gouging Bottled Water During Hurricane Harvey

We remember our lessons from Economics class about supply and demand, and how the need or desire of a product sets the price in the marketplace.  That does not excuse businesses for gouging the prices of their products during an extreme need.

Case in point, a Best Buy location in Houston, who hiked the prices of their bottles of water due to the demand from Hurricane Harvey.

The store now admits that they were in the wrong, and have issued an apology.

A representative from the store said, “This was a big mistake on the part of a few employees at one store on Friday.  As a company we are focused on helping, not hurting affected people.  We’re sorry and it won’t happen again.”  Another rep added to the statement, and clarified that since Best Buy normally does not sell cases of water, the employees marked the prices  based on the prices of single bottles.

Via TMZ

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