The Wsj’s Confused Story on Gasoline Prices and Crude Oil Prices

Michael Giberson The story in yesterday’s Wall Street Journal on the link between gasoline prices and crude oil prices was a bit frustrating. The article does a reasonable job explaining key pieces of the puzzle, but then fails to assemble the puzzle into something resembling reality. The story is headlined, “Gas Stays High as Oil … More The Wsj’s Confused Story on Gasoline Prices and Crude Oil Prices

Gas Price Gouging on Rise*

Michael Giberson Gasoline stations are violating price regulations at a higher rate than any other industry under government price guidelines, an Internal Revenue Service survey shows. About 20% of service stations checked were selling gasoline above the legal ceiling price, the agency said. Federal energy chief William Simon told The Milwaukee Journal’s Washington Bureau Thursday … More Gas Price Gouging on Rise*

Do Anti-price Gouging Laws Help the Victims of Natural Disaster?

Michael Giberson At the LegalMatch Law Blog, Sonya Ziaja editorializes in favor of laws against price gouging: Natural forces are blind to what they destroy. People aren’t. In the past month, tornadoes and flooding in the South and Midwest left behind crippled lives, destroyed homes, and eviscerated infrastructure. Now as the victims of the tornadoes … More Do Anti-price Gouging Laws Help the Victims of Natural Disaster?

Gasoline Price Gouging Complaints Spur Kentucky, Maryland Attorneys General into Action

Michael Giberson Image: MDOHKYgasprices_APR20_gasbuddy hosted on Flickr. Chart created at GasBuddy.com. Kentucky: Attorney General Jack Conway filed a motion last week seeking a temporary injunction to force Marathon Petroleum Co. to return its gasoline prices to April 26 levels, the date the state’s Governor declared a state of emergency due to flooding. From WLKY.com: Attorney General … More Gasoline Price Gouging Complaints Spur Kentucky, Maryland Attorneys General into Action

Two Views on Gasoline Prices

Michael Giberson 1. Economist Mike Moffat, in the Ottowa Citizen, writing in response to news that the Competition Bureau would again take a look at gasoline prices, reports “There is no gas price conspiracy.” He said, “There have been six Competition Bureau examinations of gasoline pricing in the last 20 years. All six found no evidence … More Two Views on Gasoline Prices

Oil Speculator Witch Hunt, 2011 Edition

Lynne Kiesling Following up on Mike’s post yesterday about pandering politicians and their 2011 edition of the recurring petroleum price witch hunt … Others have weighed in on the idiocy of this “Oil and Gas Price Fraud Working Group”. Let’s start with KP’s go-to energy finance economist, Craig Pirrong: … it’s an opportunistic effort to … More Oil Speculator Witch Hunt, 2011 Edition

Zone Pricing Ban Proposal Advances in Connecticut, Zone Price Ban Law in New York Still Not Working

Michael Giberson Gasoline consumers in well-off Fairfield County, CT, pay gasoline prices that tend to be higher than prices in the rest of the state. The consumers don’t like it. State legislators representing the region believe the issue is “zone pricing,” a practice by gasoline wholesalers which sets wholesale prices to different levels in different … More Zone Pricing Ban Proposal Advances in Connecticut, Zone Price Ban Law in New York Still Not Working

Did They Really Say That? Gasoline Market Stress Coming to Eastern Washington, So Officials Offer Advice

Michael Giberson One consequence of a 14-week project to replace several locks on dams on the Columbia and Snake rivers is that gasoline transportation costs will rise in the area. Some gasoline that would have traveled up the river will have to move by train and truck instead, a more expensive process and one much … More Did They Really Say That? Gasoline Market Stress Coming to Eastern Washington, So Officials Offer Advice

Orlando Wants to Discourage High Gas Prices Near the Airport

Michael Giberson News headlines say, “Orlando wants to prevent gas price gouging,” though the practice Orlando politicians want to stop isn’t price gouging, per se. Rather, the target of the proposal is gasoline retailers near Orlando International Airport who charge substantially higher gasoline prices than neighboring stations. The proposal would require gasoline stations near the … More Orlando Wants to Discourage High Gas Prices Near the Airport

Unfair Prices and Moral Progress

Michael Giberson Unfair Prices Daniel Little, at Understanding Society, asks about “Fair Prices?”  In exploring the topic he draws some upon E.P. Thompson’s studies of the English working class: E. P. Thompson’s work on early modern Britain reminds us that there was a “moral economy of the crowd” that profoundly challenged the legitimacy of the … More Unfair Prices and Moral Progress