Gas prices went up about 6 cents from Friday to Monday. I know we have some smart attorneys on the board and some finance guys. I have a question. Why do ALL the gas station prices go up at the same time? What causes this and what permits this? It sounds like a conspiracy. How about the RICO act? Is there any government official with the balls to challenge these greedy pigs?
I could give an economics based answer to this, not so much restricted to gas prices though.
There are Market Setters and Market Dependents (I know I have those names wrong) but basically certain companies set prices and all other companies follow. So when Shell or Exxon raises their prices, the smaller companies will raise them just enough to not force any buyers away. This is obviously all in a perfect world but small companies have to react to larger companies prices. They are still going to get x amount of people buying gas whether they sell it at 2.15 or 3.15 (depending on the other companies prices) so they will figure out the highest price they can sell it at
