>>>>>I'm assuming this was meant for me.
>>>>>
>>>>>The rise and fall of gasoline prices is due to competition. The oil that is currently being traded on the market will not become gasoline for 3+ months. When crude prices rise gas stations raise their prices in order to maintain their miniscule profit margin on future purchases. Gasoline formulas are strictly regulated so all gas stations are purchasing the essentially the same refined product so the prices stay within pennies of each other. When crude oil drops in price it's competition amongst various stations which drives the price down. Counterintuitively it's during the downturn when retailers make larger profit for a short period of time.
>>>>>
>>>>>There have been multiple studies and Congressional hearings regarding price gouging which have resulted in nothing.
>>>>>
>>>>>If you want to see actual gouging look no further than milk in New York. The price is fixed by regulation, yet 86% of stores have been caught overcharging. That's gouging. Never mind the cost to produce milk has gone up and the price controls squeeze if not eliminate the profit.
>>>>
>>>>Oil is a fungible commodity - an amusing illustration at http://www.freerepublic.com/focus/f-news/1584659/posts
>>>>
>>>>It helps to think of "capitalist markets" like democracy - the absolute worst system possible, except for all the others ...
>>>
>>>He uses that wonderful phrase again. Changes in the amount supplied or the amount demanded cause the price to go up or down. As if it is governed by some irrefutable law of physics based on Planck's constant and not human beings looking for opportunities for profit. By that logic, there is no such thing as gouging. After all, if supply is low and demand is high, it's out of the hands of the seller. Remember that next time there is a blackout and 'C' batteries are selling for $50.00 a pop.
>>
>>Last time I checked, there was no law stating "Thou shalt buy X litres of gasoline per week and Y C-cell batteries per month". If you don't like the price of batteries during a crisis, don't buy them. Or, if you want to participate more directly in the market, tell the retailer you're buying them this time because it's an emergency and you really need them, but you won't buy from her in future.
>>
>>Or even better yet, be an ant rather than a grasshopper - put a few C cells in the fridge when prices meet your exacting criteria ;-)
>
>But there are effectively laws saying thou shalt buy X litres of gasoline a week for an awful lot of people who have to get to work and have no alternative.

There are always alternatives, if there weren't then the demand would not be falling as it currently is.

>There are a lot of laws that prohibit storing x litres of gasoline (especially when it amounts to hundreds or thousands of gallons) in the refrigerator!