Price Gouging

[[AK]Hylander]

I posit that most gas stations don't lose money on the gas they put in the ground prior to a price break--the gas station industry in general is quicker to raise prices when crude goes up than they are to lower prices when crude goes down. That's all based on personal anecdotal evidence--I'd love to see some statistics that prove me right or wrong.

I think it's like any other business.. it depends on the independent store. I know the gas station I go to here in NJ lowers prices pretty fast, alot faster than the Exxon/Mobile/Texaco's in PA. But then again, it also depends on the owners. The Pakistani owned Exxon is generally 8 - 10 cents more expensive than the Indian owned one on my way to work. Yet I 'thought' their prices were limited by their contract with Exxon?

NEW YORK (CNN/Money) - Consumers can expect retail gas prices to rise to $4 a gallon soon but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.

"There's no question gas will hit $4 a gallon," Ben Brockwell, director of pricing at the Oil Price Information Service, said. "The question is how high will it go and how long will it last?"

$4 per gallon