Demand for gasoline is more price-inelastic than commonly thought

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 … More Demand for gasoline is more price-inelastic than commonly thought

Price gouging news roundup (March 2011)

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 … More Price gouging news roundup (March 2011)

Rainy days, but not Sundays, will get them down

Michael Giberson From the “Things that make you go Hmmmm” file, note things take an interesting turn in paragraph 4: W2 Energy, Inc. is pleased to announce that it has become a research affiliate of the Arizona Research Institute for Solar Energy (AzRISE). AzRISE (www.azrise.org) is a global institute at the University of Arizona in … More Rainy days, but not Sundays, will get them down

Georgia bill would add useful flexibility to price gouging law

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.  … More Georgia bill would add useful flexibility to price gouging law

Retailing gasoline: At least twice a day Dan checks up on his competition

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 … More Retailing gasoline: At least twice a day Dan checks up on his competition

Punishing gasoline customers for non-existent ‘price gouging’ by New Jersy station

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 … More Punishing gasoline customers for non-existent ‘price gouging’ by New Jersy station