I've decided to do an experiment. For so long, I've believed (and ranted about here) that the big oil companies are run by greedy money grubbing sons-a-bitches who have no qualms about gouging the consumers at the pump. I believed (and ranted about here) that when oil prices drop, there is not a corresponding drop in gas prices, yet, when oil prices inch upwards, the price of gas shoots sky high. hence, the gouging.
In order to see if this is true or not, I'll attempt to remember to do the following each day: check the closing price on a barrel of light sweet crude oil, and check the average price of gas for the area I live in. (There's actually a place on the web that calculates the average price for stations in your area...technology, who knew?)
I know this isn't scientific. I know that the prices in my area are not representative of the nation as a whole. And I know that the prices of gas can be affected by the local shops selling it. Nonetheless, if there is not gouging, no over inflated price hiking, the drops and rises in gas prices should be similar to oil prices. If that's not the case, then that leads credence to the belief the oil companies are gouging.
I know, I know, if it is occuring, it COULD be caused by any number of factors. I realize this. I'm not saying it's PROOF of that happening, I'm just saying it could be interesting to watch.
I'll be leaving a little note for all to see on one of my posts each day, by my name. Something like this:
POLT oil: 58.93 (-.68); gas 2.53 (no change)
this read as follows.... oil: the price of oil that day (the change in the price of oil since the last day); gas the price of gas that day (the change in the price of gas since the last day).
Should be easy enough. And I have the first figures now:
yesterday: oil 58.93 (-); gas 2.53 (-)
today: oil 58.25 (-.66); gas 2.53 (no change)
POLT
"What's your most common sexual position?" "...There's more than one?" - Emily, Kinsey
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5 comments:
The big Oil companies were called in to a Seante committee investigating price gouging. at the same damn time wall street announced that Exxon had made ten Billion Dollars profit in the last quarter of 2006. Senate results: No price gouging could be found. What? Really you guys couldn't find any price gouging at all? Wall Street said that is the largest profit ever made by any company in the world to date. Still can't find any price gouging huh? Between you and me I think they just weren't looking. I'd laugh if it wsn't so sad.
that's crazy.
its all BS. they are simply price gouging. and that's that. its a well known fact.
gas shouldn't be higher than 75 cents a litre around here but instead its at 1.02 right now. its frigging bull crap.
yes they weren't looking for any price gouging b/c they profit from all this crap.
they don't care about us in the long haul. only their pockets.
is it conincedence that there is this 'huge oil shortage' and now all of sudden the gas prices go up.
YOU BETCHA!!!
Where have I heard those words before...Still can't pay the price of gasoline and meat, alas our lives are incomplete. Don't it make you want to rock-n-roll all night long, Mohammeds Radio. I heard somebody singin' sweet and soulful, on the Radio, mohammeds radio. I can hear Linda Ronstadt now. Memories...
Although I have never done what you are doing by watching the price per barrel and the cost at the pump, my gut tells me you are correct.
Wasn't it Exxon that recently posted the largest quarterly profit for any corporation ever? I believe I read something about it on CNN.
I can tell you that I do consider the price at the pump when I am planning a trip now days. Oft times changing my plans accordingly.
Onanite
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