I would someone to explain to me why the price of gasoline has gone down this summer instead of up due to the summer driving season, as in past years. I do know from asking that people aren't driving less because of the price; just sucking it up. If it's supply and demand, it should be up near the record price I saw pre-summer $3.50ish (Northern California). Call me a cynic, but I 've seen this pattern before. They [oil companies] give some tenuous excuse about refining capacity, maintenance, etc., allow the price to max out and when people start complaining, they back it off and wait for people to get use to the higher price range. I know the price of crude is mostly out their control since we import so much.
Someone please enlight me. I would like to think that free market forces are at work here. I know the price of crude is mostly out their control since we import so much.
2007-08-17
23:01:48
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2 answers
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asked by
emarr3
1
in
Economics