The Ponderings of a Big Foot Buddha

2003-05-18 - 9:46 a.m.

Price gouging at the gas pump

This strikes me as peculiar and I have noticed this happening on more than one occasion. Gas prices at several gas stations on my way home from work will have a price posted. Then literally overnight the next morning the prices have risen by 10% to 15%. How has the fuel in their storage tanks gotten more expensive in 12 hours?

I was taught in my business classes it was unethical and in many cases illegal to raise the price on your existing stock/inventory because your new stock costs more.

The oil companies claim the rising cost of fuel forces the pump price up. Ok granted. But how does that affect the cost of already produced gasoline sitting in service stations tanks? Plus it seems rather unlikely the world oil cartels conspire to raise prices right before every long weekend during the summer.

Gee I wonder what’s really the reason for the price hikes? $$$$$ perhaps ?

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