Gas Prices?
Jupiter Ceasar Leprechaun II asked:
I am confused whenever oil prices rise or even some news event predicts it like a ( pipe line bombing strike hurricane etc etc ) gas prices skyrockets with hours.
I am confused whenever oil prices rise or even some news event predicts it like a ( pipe line bombing strike hurricane etc etc ) gas prices skyrockets with hours.
Yet now that oil has finally corrected somewhat gas prices are flat. Aside from criminal gouching what explains this and can it be fixed
Oil is sold of the speculation market. The spec market runs on panic. A hurricane, disaster, holiday, or bird flying by can and does drive up the price of oil. Even something great can drive it up. It only falls for short periods of time and with what it is now, it doesn’t matter anymore any way.