And yet, a certain oil company makes $7 billion profit in a ******* quarter of a year.
Not to mention the equally large tax break they receive from the federal government.
It's actually becoming really clear around my area that some major league gouging is going on. Here's the rundown of regular unleaded gas prices since last Friday:
August 05: $2.059
August 06: $2.099
August 07: $2.159
August 08: $2.199
August 09: $2.259
August 10: $2.299
August 11: $2.359
I actually went out of town earlier this morning and one gas station (what I call "out of the loop" stations) actually had regular UL at 2.499 a gallon (which in a rural area, is as high as I have ever seen it get). A report on CNN yesterday had a station in NYC at $2.81 for regular UL, and they said it would probably reach 3 bucks a gallon by the end of the year. I'll go one better: I'll say it hits 3 bucks a gallon by the end of the month.
I think that a lot of the independent gas stations watch Fox News and see that the national average is 2.45 a gallon, for example. Not understanding mathematics, they say, "Well if they're charging 2.45 a gallon, we need to raise our prices to just under that level or at that level." This drives the national average up even higher, and the cycle repeats itself. This doesn't even take into consideration the fact that gasoline sales are the only area I can think of where people try to price their product higher and higher, with all the other stations raising their prices as well to "compete."
Screw the extended toy hunting nowadays.
With gas prices becoming what they are, Matt, screw any non-essential travelling nowadays at all.