Administrative supervision and sanction of price gouging

Fair pricing of products is substantial vital for both consumers and the country's economy. Excessive pricing of products without any justified reason results in unfair pricing practices. Especially during extraordinary periods such as earthquakes, fires, floods and epidemics, price gouging in basic necessities, goods and services which become a essential goods in such situations can be considered as an immoral course of action. Excessive pricing within the scope of unfair pricing practices in Turkiye and the European Union countries constitutes the subject of Competition Law. In the United States, the pricing of products is not intervened with in ordinary periods. Besides, legal regulations regarding the prevention of price gouging during extraordinary periods in Turkey is the "Law No. 7244 on Reducing the Effects of the New Coronavirus (Covid-19) Epidemic on Economic and Social Life and the Law on Amending Certain Laws". By the Law No. 7244 the new provisions are added to the Act of Retail Trade. Within the scope of the mentioned provisions, increasing in the sales prices of goods and services by manufacturers, suppliers and retail businesses is subject to administrative fines. In addition, the Unfair Price Evaluation Board was established in order to make regulations regarding price gouging and hoarding practices, to carry out inspections and investigations when necessary to impose administrative fines and to take all kinds of measures. Also, the Unfair Price Evaluation Board Regulation was published in the Official Gazette dated 28.05.2020 and numbered 31138. Thus, the Unfair Price Evaluation Board has started its activities within the Ministry of Commerce. In this study, the concepts of Unfair Price and Price Gouing are classified. Within the framework of this dual distinction, by discussing national and international regulations evaluations and identifications were made regarding unfair price practices as a whole. Keywords: Unfair Price, Excessive Price, Price Gouging, Competition Law, Unfair Price Evaluation Board.