The price of crude oil is below $100/barrel (lowest in 6 months) yet, the price of gas has gone up – practically overnight – quite considerably: from ten or so cents on a gallon to more than $5/gallon is some places (the latter is obvious price gauging, hint, hint...) Of course, the increases are blamed on the hurricane that hit the Texas coast.
Now, here is a simple question: why it takes weeks, if not months, for the pump prices to dip after the price of crude oil decreases, but only a few nanoseconds to raise the pump prices considerably after practically EVRY event, even if it does not affect oil at all…
And why ALL gas vendors and retailers do it at the same time and by the same amount? Collusion anyone? Will it ever be investigated..? (We all know the answer to that question…a resounding NO! Oil industry, oil industry über alles!)
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