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Oil prices based on ‘possibilities’

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Re: "Lack of price-fixing in the oil industry:"


In response to the 20-cent-a-litre gas price fluctuation of late, I cannot believe the studies saying there is no price fixing in the oil industry.


I recall some 20 years ago the oil companies justified their price hikes by stating the gas price was influenced by the market three to five months previous because it takes that long to produce gas at your pumps.


Knowing that, what gives them the right to raise gas prices immediately on only the assumption that they are now in a hurricane season and might "possibly" lose some pipelines? (That was the reasoning a few months ago.)


If this is the case in "normal business pricing" should the farmers not be given the same opportunity of raising milk, beef and crop prices by assuming they "might" have a drought this season?


I really don’t think the government would allow that one, do you? "Food for Thought and Time to Act."


 
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