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Oil Economics?
By Bryan CathermanIt’s hard not to contemplate the fluctuation in the price of gas while watching the dial spinning around at warp speed. Are gas prices determined by supply and demand? Does it come from some type of price per barrel index? No, the numbers on the pumps are pulled out of thin air, right down to the tenth of a cent tacked on for good measure.
Recent events seem to support this theory. Last week, the news reported that the lowest gas prices in the nation could be found in Utah. Within one day of that report, Utah’s gas prices jumped ten cents. What was the reason for a ten cent hike in such a short time? Is this something the Utah government might get involved in? If not, how far must these business practices have to go?
Posted by catherman on December 18, 2005 07:39 PM
