I wonder how stupid the petroleum industry thinks we are? They reported, on local television, that there is too much competition for the gas prices to be fixed. They tell us that each gas station watches the next and they just automatically change prices with each other. When one station lowers his price, to catch a little market share, the next does, too.
That may explain how prices drop, but I challenge the logic for price increases. If I had a station and my gas was selling at 103.9, I would have a difficult time convincing myself to increase it 12 cents a gallon. What if the next station decides not to follow suit? I would look silly as the only station with gas at 115.9.It doesn't take a genius to realize that agreements are in place between petroleum "competitors."
Eldon Griffiths
West Valley City