NJ S176

Wholesale motor fuel prices charged to retail dealers must be set using a negotiated formula agreed upon by both contract parties, with prices capped at no more than five cents per gallon above the distribution terminal's listed price at time of purchase.

Violations of the pricing requirements result in a $5,000 fine per delivery of improperly priced motor fuel.

The law does not apply to retail dealers who own their station property or lease directly from a third party unaffiliated with fuel distributors, refiners, wholesalers, or suppliers.

Consignment sales and contracts existing before the effective date are exempt from these requirements.

Amends the "Unfair Motor Fuels Practices Act" (P.L.1953, c.413) and applies only to new contracts negotiated after the bill takes effect.