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Discussion » Questions » Transportation » What are some common misconceptions about gasoline (petrol) pricing?

What are some common misconceptions about gasoline (petrol) pricing?



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Posted - May 20, 2019

Responses


  • That it is actually based on supply and demand and not price rigging.
      May 20, 2019 7:51 AM MDT
    2

  • 13257
    And you have inside info to prove some kind of illegal practice? If by rigging you mean moving up and down with the competition and the market, of course that happens based on supply, demand, and competition. Stations always have and always will charge the highest possible price, and that's as it should be. People and companies are not in business to lose money, but to make a profitable living. If they can't do that, why be in business at all?
      May 20, 2019 8:03 AM MDT
    0

  • 19942
    That is true to a great extent, but if a station's prices are too high, they will have fewer customers and if they continue to keep their prices high, eventually people will gas up somewhere else permanently.  This is happening with me now.  There's a gas station just before I get on the highway.  They still have full service so I expect that the gas will be a little higher, but last week, they raised their price to $3.55 (cash), which is far above what other stations are charging.  I now gas up at a station that has full service and only charges $3.19 (cash).  
      May 20, 2019 8:19 AM MDT
    1

  • 13257
    Really? I paid $2.79 on Long Island last week.
      May 20, 2019 9:00 AM MDT
    1

  • 19942
    Not sure how far out you are - I was in Nassau County.  
      May 20, 2019 1:14 PM MDT
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  • 13257
    Suffolk near Port Jefferson.
      May 20, 2019 1:54 PM MDT
    1

  • 19942
    That's probably why.  I also don't mind paying a bit more for someone else to pump gas.  
      May 20, 2019 2:33 PM MDT
    1

  • 13257
    I do.
      May 20, 2019 2:48 PM MDT
    1

  • 19942
    My car holds 13.5 gallons - even if I was dead out of gas, it would only cost me $1.30 to have someone else pump.  Definitely worth it to me and I'm keeping someone employed.  They can take care of their families, they pay taxes and contribute to Social Security.
      May 20, 2019 4:29 PM MDT
    1

  • Has stations have very little control of gas prices.  They only make about a nickel a gallon and the prices are mostly set by the producers who manipulate the markets and artificially in flat prices.  Much in the same way diamonds are artificially inflated in value by market manipulations.
      May 28, 2019 8:54 AM MDT
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  • 22891
    not sure
      May 20, 2019 4:59 PM MDT
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