Price Gouging

[[AK]Squidly]

Yesterday gas at my local station was $2.55 a gallon for regular. Today it's $2.74.

[[AK]StitchJones]

Yesterday gas at my local station was $2.55 a gallon for regular. Today it's $2.74.

Your still .18$ cheaper a gallon then me!

[[AK]Squidly]

Prices from region to region will vary. It's the one day jump that raises my eyebrow (and drew an email to the price-gouging website that NJ state Gov has set up.)

[[AK]Bribo]

My Dad's girlfriend has a daughter who lives in Mississippi. She and her family weathered the storm but they say their town has no power and looks like a war zone.

She said that a local gas station was selling gas at $13.00 a gallon before he ran out and was eventually arrested by the police for price gouging.

President Bush has opened up the Strategic Petroleum Reserves to help with supply issues. This kind of scenario is exactly why the SPR was created. Good thing we didn't listen to those politicians (like my own Sen. Chuck Schumer) who were calling for us to use the SPR to push oil prices down. They might not be there today to help with this crisis.

[[AK]The Beast]

I saw similar price increases to those Squidly reported all over town. The fact of the matter is that the minute crude oil prices climb, pretty much every single gas station immediately raises their price correspondingly. But once oil prices make their way back down, now "it takes time for a price change to make its way down to refined products like gasoline". Taking advantage of a tragedy like a hurricane is disgusting--but it's just business as usual for most of these places.

[[AK]Squidly]

I've seen reports that the price will continue to rise throughout the week, and may well end up a full $1 higher in 7 days time.

Sweet!

[[AK]Hylander]

It's mostly economics. We have extremely limited refining capability (Thank the enviro-terrorists) and we lost some of it in Katrina. Justified or not, that real, perhaps obtusely perceived, decrease in supply causes the price to go up.

I paid $2.46 on Monday... the same station is already up to $2.74 as of this morning. I have no doubt I'll see $3.00 by the end of the week... perfect for my trip to upstate NY this weekend.

But don't worry.... we are in Iraq for the "cheap oil", it should be kicking in any day now.