Breaking news: Oil companies gouge seasonally
When spring arrives, they jack up the price of gasoline at the pump. They say it's supply and demand, but learned people who have studied the statistics say it's greed.
| Posted at 3:42 AM | Permalink |
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This page contains a single entry from the blog posted on June 15, 2012 3:42 AM.
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Comments (8)
No worries. Sen. Wyden is on the case.
Posted by Allan L. | June 15, 2012 5:08 AM
Sen. Wyden wrote, “I continue to believe that the oil markets are being driven by factors beyond supply and demand."
You're kidding? He put that together by himself? Way to stay engaged in the process. That explains the spikes by speculators every time the drums of war start beating in the Middle East.
When the talk of Iran started there was a huge price leap in future contracts so we pay for a war even before it starts happening.
Oh, and since it's the digital age, the actual drums of war have been replaced by a drums of war sample.
Posted by Bill McDonald | June 15, 2012 5:28 AM
At the ARCO station I usually stop at gas was $4.19/gal a little over a week ago. Today it is $3.85/gal. More than 30 cents in less then 2 weeks??!
Yeah, I believe that supply and demand have nothing to do with it.
Posted by Jill-O | June 15, 2012 10:05 AM
Just another indication that we need more refineries, so that excess capacity will make price fixing more difficult.
Again thank the greens for high energy prices. They are trying to keep prices high.
Posted by jim karlock | June 15, 2012 2:25 PM
In the Midwest, I paid 3.09 (rounded up for the 10th) ten days ago. Tonight, $3.40. Now, tell me, what crisis has occurred in the last
10 days that could have possibly affected prices this much?
That's what I thought, price fixing.
Posted by talea | June 15, 2012 6:50 PM
If you check I think you will find that Wyden has launched an investigation into Oil Company "price gouging" every year about the same time.
I think he may have started when he was a mere Congressman.
The crossed out and pencilled in date at the top of the Press Release should be a clue.
Some years we even get sound bites and pictures of Senators looking sternly at Oil Company execs.
It's become so routine that I don't even notice any more. The last go round that I recall I remember Wyden proposing to make some Oil Company practices illegal. That tells me that he found nothing illegal going on. So he wants to make legal practices illegal.
Yup, that's the ticket.
Posted by John D | June 18, 2012 9:34 PM
And here's an update to my post above. Same ARCO station is now selling gas at $3.71/gal.
That's an almost 50 cent/gal. price drop in less than 3 weeks.
Bouging Gastards...
Posted by Jill-O | June 19, 2012 9:14 AM
Another update, it is now at $3.65/gal...so make that 54 cents in less than 3 weeks.
I'ts nice to be paying less, but this whole thing makes me very angry...
Posted by Jill-O | June 20, 2012 9:59 AM