Oklahoma Senator Cody Rogers is leading a group of Senators calling on the Attorney General’s Office to investigate allegations of price gouging and market manipulation within the building supply industry during the COVID-19 Pandemic. It has been widely reported that the costs of lumber and other construction materials have skyrocketed due to global supply chain disruptions.
Rogers is leading nearly a dozen fellow Senators in the call to take a closer look as more constituents deal with rising construction material prices.
“I have one constituent who is looking at an additional $100,000 in costs due to these increases. Lumber prices have shot up four to six times higher than what they were about half a year ago. Sheets of oriented strand board that were previously $11 each are now $48 even though they can be manufactured for less than $4 each,” Rogers said. “Hot-rolled, coil steel has spiked almost 270% in less than a year. It’s outrageous, and it’s hurt individuals and Oklahoma businesses.”
Rogers believes there could be violations of the Oklahoma Emergency Price Stabilization Act, which prohibits any increase of more than 10 percent for the price of goods or services during a declared emergency. He has requested the Oklahoma AG Office work with the U.S. Attorney General’s Office to identify other possible violations.
