Gas prices take the elevator up and the stairs down
Jelly_Mellyx on
lets meet on the finishing line
AureateMeadow on
funny how the market adjusts instantly’ only works in one direction
Pretty_ButWeird on
When oil goes up 1%, the pump price rises before the news segment even ends
undeadhulk007 on
Gas companys should be taxed based on their earings compared to last year in connection with liters sold.
Increase prizes unfairly? Well i guess you taxrate just skyrocketed.
UncleVoodooo on
oh jesus be careful I had some basement dweller yelling about supply and demand all morning when I pointed this out
slowdownnbaby on
Looks like the price goes up in both cases
lone_Ghatak on
Don’t blame gas companies, it’s decided by the government.
Slain801 on
You guys are getting lower prices ???
HubrisOfApollo on
wait till the cost of everything else goes up due to “transportation costs” but doesn’t come back down
norad4isy5090 on
the spacing in the third paragraph is off
LastChime on
Oops, all tariffs!
crimcrimmity on
Rising costs impact a business almost immediately. However, it takes the gradual pressure from nearby businesses undercutting prices and stealing customers to convince a business to lower their prices.
It works like that all the way down the supply chain.
ChewyThePug on
If only they could make a car that doesn’t need gasoline to be able to drive. 🤔 someone should look into that.
tigershrike on
rocket-feather economics
Rare-Government-6945 on
the wording in the second sentence is kinda odd
NoPush2408 on
that reminds me of something i read last week
Geolib1453 on
Bruh the reason gas prices dont fall when oil prices fall is cuz of inflation. Sure they do fall but inflation is still positive. The rise just becomes way slower and well people can now keep up with it somewhat at least.
karateninjazombie on
Pretty sure the turtle/tortoise is dead at this point.
Innocent-Arm-247 on
Feather effect
Striking-Fig-128 on
time to dust off the walking shoes
Armageddonis on
They just see that during crisis everyone is still buying gas (obviously), and after some time the new hiked up price just becomes new norm. If people would just stop using their cars (an impossible thing to achieve en masse), they would feel it in their pockets – the only thing that they actually care about – and comply.
Gsomethepatient on
I mean you would to if you were a gas station, like let’s say you buy gas at 100$ (only using 100 to make the math simple) and mark it up 50% so your selling it at 150$, but now gas is 50$ and you still have the gas that you bought at 100$ if you sold the gas at its new real price you would be losing money at a quarter of what you bought it for
So prices cant be lowered until all the old supply of gas is sold off
TheTobruk on
Their excuse officially is that they still have reserves bought while the prices were high, so they need to sell those off first. But that doesn’t apply to reserves bought at low prices, somehow.
Sure big company bad, but this is more an issue of economics incentives that hurt consumers than a evil practice. If you pay attention you might see this pattern in a lot of markets other than gas
leg00b on
The Casey’s where I live is adjusting their prices every other day. It’s bipolar
Haizenburg1 on
You know what else is going to increase? Oil change fees. The last time oil shot up a few years ago, then fell back, they had the balls to blame the doubling in fees on oil prices, when it had already dropped back. They still never changed their fees back, after all these years.
has something to do with the already purchased products at the higher price. but it still takes way longer to effect the change in price which is not fair
31 Comments
Gas prices take the elevator up and the stairs down
lets meet on the finishing line
funny how the market adjusts instantly’ only works in one direction
When oil goes up 1%, the pump price rises before the news segment even ends
Gas companys should be taxed based on their earings compared to last year in connection with liters sold.
Increase prizes unfairly? Well i guess you taxrate just skyrocketed.
oh jesus be careful I had some basement dweller yelling about supply and demand all morning when I pointed this out
Looks like the price goes up in both cases
Don’t blame gas companies, it’s decided by the government.
You guys are getting lower prices ???
wait till the cost of everything else goes up due to “transportation costs” but doesn’t come back down
the spacing in the third paragraph is off
Oops, all tariffs!
Rising costs impact a business almost immediately. However, it takes the gradual pressure from nearby businesses undercutting prices and stealing customers to convince a business to lower their prices.
It works like that all the way down the supply chain.
If only they could make a car that doesn’t need gasoline to be able to drive. 🤔 someone should look into that.
rocket-feather economics
the wording in the second sentence is kinda odd
that reminds me of something i read last week
Bruh the reason gas prices dont fall when oil prices fall is cuz of inflation. Sure they do fall but inflation is still positive. The rise just becomes way slower and well people can now keep up with it somewhat at least.
Pretty sure the turtle/tortoise is dead at this point.
Feather effect
time to dust off the walking shoes
They just see that during crisis everyone is still buying gas (obviously), and after some time the new hiked up price just becomes new norm. If people would just stop using their cars (an impossible thing to achieve en masse), they would feel it in their pockets – the only thing that they actually care about – and comply.
I mean you would to if you were a gas station, like let’s say you buy gas at 100$ (only using 100 to make the math simple) and mark it up 50% so your selling it at 150$, but now gas is 50$ and you still have the gas that you bought at 100$ if you sold the gas at its new real price you would be losing money at a quarter of what you bought it for
So prices cant be lowered until all the old supply of gas is sold off
Their excuse officially is that they still have reserves bought while the prices were high, so they need to sell those off first. But that doesn’t apply to reserves bought at low prices, somehow.
[I Can’t Get Behind That](https://www.youtube.com/watch?v=Be85ZsJCIAI&list=RDBe85ZsJCIAI&start_radio=1)
Sure big company bad, but this is more an issue of economics incentives that hurt consumers than a evil practice. If you pay attention you might see this pattern in a lot of markets other than gas
The Casey’s where I live is adjusting their prices every other day. It’s bipolar
You know what else is going to increase? Oil change fees. The last time oil shot up a few years ago, then fell back, they had the balls to blame the doubling in fees on oil prices, when it had already dropped back. They still never changed their fees back, after all these years.
This is one of those cases where intuition matches data. Huge study out of Germany proved https://www.researchgate.net/publication/358118490_Rockets_and_Feathers_Revisited_Asymmetric_Retail_Gasoline_Pricing_in_the_Era_of_Market_Transparency
has something to do with the already purchased products at the higher price. but it still takes way longer to effect the change in price which is not fair
Ahah