Comments on: Price Gouging at the Pump? http://www.consumerismcommentary.com/2005/09/01/price-gouging-at-the-pump/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 08 Nov 2009 07:50:42 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Flexo http://www.consumerismcommentary.com/2005/09/01/price-gouging-at-the-pump/#comment-848 Flexo Wed, 07 Sep 2005 22:36:19 +0000 http://wp.consumerismcommentary.com/?p=480#comment-848 Follow-up on the price gouging issue: <a href="http://slate.msn.com/id/2125814/fr/rss/" rel="nofollow">This article from Slate explains why gouging isn't an issue now</a> but may be later. Follow-up on the price gouging issue: This article from Slate explains why gouging isn’t an issue now but may be later.

]]> By: monty loree http://www.consumerismcommentary.com/2005/09/01/price-gouging-at-the-pump/#comment-847 monty loree Fri, 02 Sep 2005 16:55:43 +0000 http://wp.consumerismcommentary.com/?p=480#comment-847 Gas prices june 13¢ per litre or 50¢ a gallon yesterday in Canada. That's a shock to the system. I'll be furious if the gas companies like exxon come up with $7billion profits per quarter like they have been for a while. They're gouging while they don't need to. Gas prices june 13¢ per litre or 50¢ a gallon yesterday in Canada.

That’s a shock to the system.
I’ll be furious if the gas companies like exxon come up with $7billion profits per quarter like they have been for a while. They’re gouging while they don’t need to.

]]> By: henry http://www.consumerismcommentary.com/2005/09/01/price-gouging-at-the-pump/#comment-846 henry Fri, 02 Sep 2005 16:50:31 +0000 http://wp.consumerismcommentary.com/?p=480#comment-846 I went to lunch yesterday with some co-workers and we noticed that at 12:10 PM, regular 87 octane was going for $3.09/gal. We passed by the same station at 1:10 PM and the 87 was going for $3.29/gal. 20 cents in an hour. Don't know if it's gouging per se, but it makes me wonder. We're also having lines at some of our stations. It's craziness. I went to lunch yesterday with some co-workers and we noticed that at 12:10 PM, regular 87 octane was going for $3.09/gal.

We passed by the same station at 1:10 PM and the 87 was going for $3.29/gal.

20 cents in an hour. Don’t know if it’s gouging per se, but it makes me wonder. We’re also having lines at some of our stations. It’s craziness.

]]> By: Bill http://www.consumerismcommentary.com/2005/09/01/price-gouging-at-the-pump/#comment-845 Bill Fri, 02 Sep 2005 03:54:00 +0000 http://wp.consumerismcommentary.com/?p=480#comment-845 Two words: supply, demand. More words: supply has been hit, demand not changed, prices go up. They should stablize in a couple of weeks, but several of the LA refineries won't be producing gas for months - that's why prices are going up. Gouging? That will self-correct, because, despite fears to the contrary, there is no oil company collusion/conspiracy and the big companies won't go for such an *obviously* illegal practice. Two words: supply, demand.

More words: supply has been hit, demand not changed, prices go up.

They should stablize in a couple of weeks, but several of the LA refineries won’t be producing gas for months – that’s why prices are going up.

Gouging? That will self-correct, because, despite fears to the contrary, there is no oil company collusion/conspiracy and the big companies won’t go for such an *obviously* illegal practice.

]]> By: Darren R. Sussman http://www.consumerismcommentary.com/2005/09/01/price-gouging-at-the-pump/#comment-844 Darren R. Sussman Thu, 01 Sep 2005 23:02:28 +0000 http://wp.consumerismcommentary.com/?p=480#comment-844 I really can't take this anymore. It's likely that gas prices are going to go up almost $1 per gallon in my area over the course of a WEEK! If I raised my prices that quickly by that large of a percentage, my clients would simply stop calling. But gasoline is such a perfect product because the market is built in and they have no choice but to keep coming back. Think about it. They could be charging $5 per gallon right now, and although we would be outraged, we would still be lining up at the pump. I really can’t take this anymore. It’s likely that gas prices are going to go up almost $1 per gallon in my area over the course of a WEEK! If I raised my prices that quickly by that large of a percentage, my clients would simply stop calling. But gasoline is such a perfect product because the market is built in and they have no choice but to keep coming back. Think about it. They could be charging $5 per gallon right now, and although we would be outraged, we would still be lining up at the pump.

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