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Originally Posted by jcwang";p="
The major Oil company jump up the gas price during the Katrina disaster:
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Supply shortage fears drove the price up.
Quote:
Originally Posted by jcwang";p="
When the unleaded gasoline price went up to $3.19 per gallon, the same period at Walmart gas station is $2.83, how did Walmart manage to maintain a descent price?
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I think you may be mistaken, or you were looking at the price of gas in 2 different parts of the country.
Quote:
Originally Posted by jcwang";p="
Don't tell me that you don't know how much profits those major company made last year?
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Of course the oil companies made a profit. And they should. They insure that there aren't lines at the gasoline stations, like there were back in the 70's. And the price we pay for thier efforts is exactly what the market determines that it should be. There are federal regulations that do not allow the oil companies to "price gouge", and as far as I know, none of them have ever been found to have done so. If the government stepped in and regulated the price that oil companies could charge, we would have lines at the gas stations, because the oil companies wouldn't be able to keep up with the market demand during shortages.