1. Attachments are working again! Check out this thread for more details and to report any other bugs.

Gas retailers keeping prices high

Discussion in 'Gen 2 Prius Main Forum' started by CinciPrius, Oct 24, 2005.

  1. CinciPrius

    CinciPrius Member

    Joined:
    Mar 25, 2005
    110
    1
    0
    Location:
    Cincinnati
    Vehicle:
    2012 Prius
    Model:
    Two
    This article appeared in this morning's Cincinnati Enquirer talking about retailers delaying price drops in order to increase their profit margin.

    Retailers smiling as gas prices fall


    I always figured it was going on but was surprised to see it acknowledged so blatantly.
     
    #1 CinciPrius, Oct 24, 2005
  2. jayman

    jayman Senior Member

    Joined:
    Oct 21, 2004
    13,439
    641
    0
    Location:
    Winnipeg Manitoba
    Vehicle:
    2004 Prius
    Nothng new here. In Economics we learned of the "ratchet" effect: prices easily climb but very slowly fall, or if they fall they establish a higher setpoint.

    Case in point I keep my gas receipts as most of my travel is business. March of 2004 gasoline was 64 cents a litre, around $2.42 a U.S gallon before exchange. They peaked last month at $1.19 a litre, or $4.50 a U.S. gallon.

    The gas prices appear to have stabalized at $1 a litre or $3.78 a U.S. gallon. Some of the lower life forms breathed a collective sigh of relief "whew gas is cheap again!"

    :rolleyes:
     
    #2 jayman, Oct 24, 2005
  3. Tideland Prius

    Tideland Prius Moderator of the North
    Staff Member

    Joined:
    Oct 2, 2004
    44,947
    16,165
    41
    Location:
    Canada
    Vehicle:
    Other Non-Hybrid
    Model:
    N/A
    Weird. It topped at $1.20 here and is now at 97.9¢/litre. Subtract 3.5¢/litre discount at most stations and it's 94.4¢/litre

    Edit: Just checked. 95.9 - 3.5 = 92.4¢/litre.
     
    #3 Tideland Prius, Oct 25, 2005
  4. Schmika

    Schmika New Member

    Joined:
    May 27, 2005
    1,617
    2
    0
    Location:
    Xenia, OH
    Alan- Hi. Hey, what are prices like in Cinci. In Dayton they have plummeted to around 2.27
     
    #4 Schmika, Oct 25, 2005
(You must log in or sign up to post here.)