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October 24, 2005
Gas Quiz
Russell Roberts
The price of gasoline at my usual station, a Shell station, is now $2.68/gallon, down from a peak of $3.39 maybe a month ago. The price is lower because;
A. The owner of the station is in a good mood today and felt like "giving something back."
B. The owner of the station forgot how to gouge.
C. The owner of the station can't blame outside forces for keeping price high so he lowered it.
D. The owner of the station has enough profits from the recent run-up in prices so he can afford to lower the price.
E. The owner of the station felt guilty for all the money he made recently
F. Any of the above replacing "owner of the station" with "CEO of Shell."
G. None of the above. The owner of the station doesn't set the price of gasoline.
Posted by Russell Roberts in Prices | Permalink
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