By Jim Krumel email@example.com
February 18, 2014
Is anyone in the Lima area getting tired of “The Game” the oil companies are playing? We are in the middle of winter, nobody is driving anywhere, the oil and gasoline stockpiles are as high as they have been in years and the oil companies keep playing their games.
Every time gasoline prices get close or below $3 a gallon, they play ‘The Game’. Prices go back up to $3.39 to $3.49 over-night. In some cases, that means a 55-cent increase or close to 16% increase. According to my research, this is known in their industry as a “profit spike.” When the oil companies feel the price is getting to low, they institute (or order) a profit spike to get the price back up to where they like it, not where it should be due to lack of demand and huge supplies. There is no other reason…no shortages, no breakdowns, no rise in oil prices, nor increased dependence on foreign oil….just the politics of screwing the public…..profit spikes!
And….isn’t it curious that all brands of gasoline go up the exact same amount within hours of each other? Doesn’t this sound like a monopoly or even anti-trust violations and collusion within the oil companies?
I’d say the public is tired of “The Game.”
— Ed Hanson, Lima