Who sets the price at the pump?

Lots of conflicting info on this in the ‘news’? and on the net! It’s all about ‘supply and demand’, or is it? Here is what I do know, several months back, I didn’t write the date down, and you all remember this anyway so I don’t have to repeat it. Crude oil was trading at $100.00 to $102.00 per barrel, regular gas at the pump was $3.79 per gallon. Remember that?, then a ‘news’ blurb that ‘a board of trade’ had ‘executed’ a contract for crude at $130.00 a barrel was all over the ‘media’. Within a matter of hours of that ‘news blurb’ the local station in Hollister, Idaho jumped the price of gas from $3.79 to 4.59 per gallon for regular gas. And by the way, the ‘news blurb’ that started the ‘run’ on gas didn’t state whether the ‘board of trade contract’ was for millions of barrels, or maybe it was for ONE barrel! As we speak, West Texas Crude is back under $99.00 per barrel (July 8, 2022) why isn’t gas back to $3.79, or less? If the station I mentioned earlier in this note had 10,000 gallons in the tank, that 80 cent per gallon jump netted them $8,000.00 in ‘pure gouging profit. But wait just a second or two, this ‘quick’ price fix was across the nation within a matter of hours! How did that happen? What happened to our ‘anti-trust’ laws? The next move on gas prices might be ‘there is no gas’, so everyone would pay whatever price they put on it, like the Tricky Dick Nixon move in 70-71, with ‘gas lines’ a half mile long. ‘Supply and demand’ and ‘free trade’ can only operate when the ‘fix’ isn’t in, there are reasons we had anti-trust laws, we may wake up to those same reasons!

Have a nice day!

#463 www.byrdsword.com

July 8, 2022