2007-07-10 09:48:04 · 5 answers · asked by hate sci-fi 1 in Travel ➔ United States ➔ Other - United States
They're only getting away with it if you pay it. Gas usually goes up with the price of oil, but lately it has gone up while oil has not moved much or gone down. There seems to be excess oil and a lack of refinery capacity due to the shutdowns in Oklahoma, etc. So, as stated, it's supply and demand. Might as well get used to high gas prices for a long time to come.
2007-07-11 07:25:41 · answer #1 · answered by duker918 7 · 0⤊ 0⤋
Because in a free economy they can charge ANYTHING they want. However, since gas stations make the least amount of money of anyone else in the gas supply, it is very likely that the price they had to pay went up.
2007-07-10 16:57:43 · answer #2 · answered by davidmi711 7 · 1⤊ 0⤋
If they all do it - it must be because of a commonality. While gas stations don't make very much money off of gas - ExxonMobil has recorded record profits. I don;t understand how they can get away with it - economics would say that huge profits would encourage entry by others who would just set lower prices and make less profit. There must be significant barriers to entry - I assume exploration costs are the main detriment.
2007-07-10 16:58:00 · answer #3 · answered by the_hilton 4 · 1⤊ 0⤋
Supply & demand. If they raise gas prices to $4/gallon, are you still going to buy gas? What about $5? What price will make you stop? That is the highest price they can charge.
2007-07-10 16:51:53 · answer #4 · answered by DCG 2 · 0⤊ 0⤋
We'll pay whatever is charged. We all need gas!
Mine just went up .30cents a gallon.
2007-07-10 16:56:08 · answer #5 · answered by Anonymous · 0⤊ 0⤋