Speedway’s continued attempts to sell gas cheaper than its competitors was dealt another blow this week.

The company has argued that an 80-year-old state law that regulates gas prices violated the company’s civil rights and infringed on its right to sell its product.

The 1938 law prohibits retailers from selling gasoline below the net cost of the fuel plus all selling expenses.

Two complaints were filed against Speedway by the Middlesex County Department of Weights and Measures on Oct. 16, 2016, stating that the company violated the law for selling gasoline below cost at a Hopelawn station.

In 2017, Speedway filed a complaint with the state Superior Court in Middlesex County, which later dismissed its claims, but then appealed the decision.

Two appellate court judges upheld the lower court’s ruling on Wednesday and said the law is a “rational, necessary restraint on the market, and is in the public interest."

“The Legislature determined that selling gasoline at below cost would cause disorder in the marketplace, particularly as to smaller retailers whose survival depends upon operating at a profit, and who cannot sustain an extended price war,” the judges said in their decision.

Speedway also argued that the law used vague terms such as “net cost" and “expenses," but the appellate judges agreed that they are “words of common usage and understanding, particularly for a sophisticated business entity such as Speedway."

Speedway is the second largest chain of company-owned-and-operated convenience stores in the country and currently owns 70 of them in New Jersey which all have fueling stations.

The news of judges’ decision comes on the heels of rising gas prices in New Jersey, which could reach $3 by Memorial Day, one expert told NJ Advance Media Thursday.

Chris Sheldon may be reached at csheldon@njadvancemedia.com. Follow him on Twitter @chrisrsheldon Find NJ.com on Facebook.

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