Sure glad I went around Tuesday evening getting gas. I was pretty sure that the GRBs , being as they are, were going to take full advantage of the natural disaster down along the Gulf Coast to make some more money...AND THEY DID!!!!
Tuesday night, at 9 PM, gas was still at $3.96 ($3.95.9) in Fox Lake, Illinois. Yesterday, it was a cool $4.26 ($4.25.9). That's thirty cents!! Since the stations close at night, it must have been and instant 30 cent jump.
Sadly, the oil platforms in the Gulf weren't closed until Monday so there is no way the gas at the pumps could have not been refined at some point last week. What a great way to make money, raising the price on something you've already paid for before it goes up in real time. Nice profit. Hurt folks to make money.
This is called making money in anticipation of events. But notice, there is no way that they can drop prices in anticipation of things happening to cause it to.
Of course, this is JUST IN TIME for the Labor Day weekend. Any bets as to whether prices will immediately drop 30 cents once Isaac is gone? Even after a week?
Government should put a 99.9% tax on all profits made from exploiting a natural disaster.
Must Be Nice to Be Big Oil. --RoadDog