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Why doesn't the government cite the big oil companies for price gouging for the highly inflated diesel prices?
Diesel costs far less than gasoline to refine, so logicaly it should be lower in price. In fact it was during the eighties, I drove an oil tanker for a small fuel oil company and diesel fuel was about twenty cents cheaper per gallon, now it's about eighty cents more per gallon. I know that the cost of refining it is still lower than gasoline. aren't there laws against price gouging on the national scale?
as far as the price relating to supply and demand... The demand isn't really any higher than it was a year ago. However the various oil companies in the U. S. reported a record profit this year. That alone shows that they are over-inflating the prices of gasoline and diesel fuel beyond what is reasonable and purposely creating inflated prices on everything, which is contributing to the financial problems of everybody in the country. Vitually everything that anybody buys in this country is transported by truck. Therefore the extremely high price of diesel fuel is driving the price of everything to unreasonable highs. There is such a thing as responsible marketing and pricing, though the oil companies seem to have forgotten this fact.
6 Answers
- debijsLv 71 decade agoFavorite Answer
I kinda think the oil companies own the government at this point and I'm sure all involved are getting their pockets lined very well. Hopefully a new administration will be voted in and our country can be saved from the rotten corruption taking place. That's my opinion anyhow!
- John HLv 61 decade ago
I would assume you are talking about the United States. The system is called free enterprise. There is no such thing is price gouging. There is only supply and demand. American consumers are taking steps to cut down on gasoline usage, even though the effect is small.
Diesel is another story. There is not the same effort to reduce driving and consumption. Transportation of goods is operated out of necessity rather than option. That's why the damand is still up there with the price.
We saw what happen to the fuel supply the last time the government tried to control prices. If you aren't old enough to remember the pump lines and closed stations of the '70's, study your history.
How about writing your Congressman and Senators and demand that they stop the Federal Reserve from INFLATING THE CURRENCY ! ! !
This is the problem we need to address first. The rest will fall into place when the Congress stops SPENDING MONEY THEY DON'T HAVE.
- David MLv 51 decade ago
debijs is right. The government through increasing federal fuel reserves is creating an artificially high demand that is driving prices up. The real question is that when the reserves are met and demand becomes lower, will prices drop back down to what they were a year ago? I don't think so. The oil companies know they can get 4 bucks a gallon and they will continue to charge it no matter what the level of demand is. And YES, they either run the country or the major shareholders of the oil companies have a lot of influence on government decisions.
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- 1 decade ago
The price is not set by the company, its set by us.
demand and supply, not just supply
we demand oil
its a capitalist system, dont you love it!!!!!
