Another couple of reasons why prices go up instantly:
- Even if you (the retail seller) bought cheap and don't raise your prices up like everyone else, you're going to face tough price pressure next time you buy at a high price and might go under since the price spike will force everyone to tighten belts. Your competitors will have done it already, so you might as well up your margins to deal with the lean times to come. Odds are you're going make very little or lose money during the early phases of the spike...
- Rationing - nothing sets consumption priorities like pricing. The free market rations more effectively than the government ever could, and those willing to pay the higher prices obviously need it.
Also ... what would those complaining about the high price of fual have have "done?" Price controls? That will just bankrupt the industry - they buy most of their feedstocks from the world market. Subsidise the price at the pump? We do that already... and subsidies cost more on the backend than they save on the frontend; nevermind the market-distorting effects.
Darell has it right - if paying so much for fuel is bothersome, reduce or eliminate your consumption. Action on your part may be required.
Personally, I'm going to reduce my driving as much as possible the next few weeks. Given the cost of fuel for a round-trip vs a transit pass, I'd start riding the train/bus if my work schedule allowed it. There are stores & retsaurants not too far away that I can walk to insetad of driving. If I had a bike, I could get some needed exercise and save myself some money by biking to the grocery store.
Also on the subject of "gouging," I fully expect to hear some complaining about "price-gouging" on commodities in recovery areas. As much as people hate it, it goes on and it
helps speed recovery. First of all, it strongly encourages casual operators to bring in needed commodities. Second, it rations supplies in order of need - those able to pay premiums are typically businesses, and the faster they return to normal operation, the faster the local economy picks up and prices return to normal.
Example: generators. What benefits the community as a whole the greatest - scattered private citizens getting valuable generators to run household appliances, or a grocery store getting generators so they can refridgerate food ... or gas stations, so they can operate pumps ... or the local government, so they can coordinate recovery ... or the phone company, so they can restore communications?