Friday, April 21, 2006

Gas Gouging is it happening?

We all know the price of gas is going up. Here is Massachusetts I saw premium at $3.09 at a lcoal Cumberland Farms today. There regular price was $2.89. I remember when I thought $2.39 was high.


Aren’t oil companies and gasoline dealers just price gouging? According to an article on
Msn as long as the markets are working properly — both the global market for oil and the local market for gasoline at the pump — it’s tough to make the case for “gouging.” There are laws on the books in many states, usually invoked when a disaster like a hurricane brings a short-term cutoff of supplies, against profiting unfairly from these shortages. But so far, very few cases of gouging have been successfully prosecuted. As long as dealers don't get together and set prices (that's called price fixing), they're free to charge what they think the market will bear.



The Department of Energy has set up a website to report Gas Gouging

I also found Gas Prices FAQs which looks like pretty good technical resource.

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