gasoline

Demand for Gasoline is More Price-inelastic Than Commonly Thought

1 Comment / Economics, Energy markets / By

Michael Giberson A working paper from the UC-Berkeley Department of Agricultural and Resource Economics says that the demand for gasoline is more price-inelastic than typically thought. Here is the abstract, which points to publication selection bias as the culprit: One of the most frequently examined statistical relationships in energy economics has been the price elasticity …

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Price Gouging News Roundup (march 2011)

1 Comment / Economics, Energy markets, Law, Regulation / By

Michael Giberson ABC News last week tackled the question, “Are Gas Stations Price Gouging?” (2:23 min. video) Surprisingly, I liked this story, though (and probably because) they mostly sidestep their question about price gouging and instead go in pursuit of “the highest priced gasoline in America.” They find it at a convenience store just outside …

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Georgia Bill Would Add Useful Flexibility to Price Gouging Law

1 Comment / Economics, Energy markets / By

Michael Giberson A bill passed by the Georgia state senate would add some helpful flexibility to the state’s anti-price gouging law.  The primary purpose of the bill would be to allow the state to limit the range of items for which the price gouging rules will be enforced based upon the nature of the emergency.  …

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Retailing Gasoline: At Least Twice a Day Dan Checks Up on His Competition

2 Comments / Energy markets / By

Michael Giberson An article from the San Bernardino, CA, The Sun offers a glimpse at the retail gasoline world from the retailers point of view: checking up on the competition twice a day, worried about being a penny or two too high in price, the pluses and minuses of accepting credit cards, negotiating with his …

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Punishing Gasoline Customers for Non-Existent ‘Price Gouging’ by New Jersy Station

4 Comments / Energy markets, Politics / By

Michael Giberson First, the news: Washington Township, N.J., gas station ordered temporarily closed for price gouging A judge on Monday [July 13] ordered the temporary closing of a Washington Township, N.J., gas station after the owners pleaded guilty to price gouging. Express Fuel on Route 31 North, south of Washington, will reopen on Monday. The …

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Gasoline Retailer Opposes a Zone Pricing Ban in Connecticut

3 Comments / Energy markets, Politics / By

Michael Giberson An effective zone pricing ban in Connecticut would have the effect of equalizing the wholesale price to gasoline retailers in the state. As such, it would benefit some retailers and harm others. TheDay.com presents commentary from an owner of a retail gasoline station who expects to be harmed by the zone pricing ban …

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Congressman to Western New York Gasoline Retailers: We Will Be Watching You

Energy markets, Politics / By

Michael Giberson From the Buffalo, New York, BusinessFirst: In a letter sent May 13 by FTC Chairman Jon Leibowitz to Higgins, the agency said after a careful and extensive investigation, regulators could not find any evidence of illegal activity in gasoline markets in any of the affected cities. The agency monitored prices in Buffalo, Jamestown, …

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Hartford Courant Editorializes Against Zone Pricing Ban in Connecticut

Energy markets, Politics, Regulation / By

Michael Giberson From the Hartford Courant (May 11, 2009): A bill in the General Assembly that would force gasoline wholesalers to charge the same price to retail dealers across Connecticut would likely raise the price of fuel for most motorists and make the market less responsive to competition. Legislation to ban so-called zone pricing has …

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