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Re: Gas prices...this will blow your mind!
Prices at the retail level is set by supply and demand, whatever the market will bear. This is basic economics. When supply of an item is in short supply then the price rises throughout the wholesale and retail chain. A gallon of water at Wal-Mart is now priced at 57 cents. But if you were out in the desert with a parched throat and I came along with a gallon and no campassion, I could set my price at $5, $10 or more for it and you would pay my price or die of thirst. Even though price gouging in Texas is illegal, there are a lot of people sitting alongside Interstate 45 in Houston thet would pay $5 per gallon of gas. Remember when the TY stuffed animals were the rage of the country? Collecters were paying big money for some of those little $2.00 furballs. With the oil refineries being shut down there is no gas being sent through the pipeline all over the country. This makes the gas in all those storage tanks nationwide more valuable. Also raising the prices helps cut the demand which also slows down cunsumption which extends the life of the stock on hand. Naturally the longer the refineries are shut down the shorages will remain and the price will also climb even higher. A note here. I got gas at the NAS Meridian station this past Wednesday at $2.419 for regular. I packed all I could in my vehicle before I departed for home. Gas in England is now about $10 a gallon.
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