why no real news stories on gas price gouging?

Wtih prices for gas now close to $2.70 a gallon for premium in Northern California, and everytime there is a Petroleum company profit update, profits always seem to be skyrocketing, profits never seem to reflect actual increases in costs to do business. Prices rise astronomically and never in proportion to their costs. Thus there is no real reason to raise prices to the extent they do, and since all the companies do it in unison, doesn't it then have to be price fixing? Or am I missing something?

I have an answer for you, but it isn'a appropriate for this forum. It is on the underground. As for why prices go up, we have a free market, and very tight supply for a number of reasons. Anyone with an understanding of market theory understands that supply and demand only have to get slightly out of synch, and the price can either collapse or skyrocket depending upon which direction it went out of synch. I cannot help noticing that the current administration has very long standing ties to the Industry that profits the most from this, and I suggest you read what I have to say on the Underground.

The only real way to protest is to not 'fill it up'. Don't buy a full tank. If one only buys 1/2 tank at a time, inoffiency occurs at every level. Lines, drips, wait, etc... On the bottom line, it shows that people aren't willing to open their wallet all the way for the gas man.

mattheww50, you must be mistaken. Bob Woodward said that the opposite would happen due to those ties, and he's part of the unbiased media.

There are several reasons. Supply and demand is one most argued.

Gas has been too cheap for too long. Basically as we or yous have grown to love gas guzzlers you are more likely than not to buy lots of gas. So, when they raise the price they find its more inelastic each time, therefore they KNOW you will pay more for it. More realistic, gas has been behind the times as far as price is concerned. The price of water, cola and many other things have rised as gas stayed fairly low.

So, the best bet is to get a better car or buy less each time. The less you buy the less demand they will have and will have to lower it to keep the sales up. I wont be surprised to see 5 bucks a gallon this years end and how knows how much for propane or CNG.

I've never understood how gas stations are ALLOWED to raise the price of the gasoline already in their tanks. I can understand raising their prices if they receive a new delivery, but how can they charge us more for the same tank they filled from last week?

wow $2.70, thats pretty bad!

blame instead CA's gas laws. Not that they are necessarily bad to be requiring different gas formulations, but by doing so they guarantee that their gas will be more expensive as it takes more steps at special refineries to make it. the expensive gas here in GA is still hovering just under or just over $2. But thats why you are paying a premium over the rest of the country.

I can't speak to the conspiracy, as I don't believe it.