Yes. The prices went up here the second the US bombed Iran. The fuel in the tanks and on its way, was already paid for well before the conflict began.
Oil from delivery at the refinery takes around 2-4 weeks to arrive at a gas station. Any price increases before this time are not based on current costs.
hither2forlorn on
The question I see here is do corporations screw you over the first chance they get? Absolutely. They will increase prices before the costs go up and decrease prices after the costs have gone way down. Usually prices go up by x% but then only go back down by (x-y)%
Wrong-Camp2463 on
When US patient zero was quarantined at the beginning of Rona the price of pretty much every medical supply doubled within a week and doubled several more times since
audigex on
There’s typically a 1 month lead time between the companies placing their orders, and the customer pumping the fuel into their car
Logically you’d expect prices to go up about a month after a price shock hits the wholesale market, and drop again a month after prices drop
Instead they rise instantly when wholesale prices go up, and *maybe* slowly drop again a month or two after wholesale prices drop
BareNakedSole on
A cornerstone of capitalism is maximizing profit without any concern of the ethical or moral implications of the act. The expectation is that any efforts will adhere to laws so any action would be legal, but there is nothing in capitalism that requires you to have empathy or any kind of concern for what happens from your actions.
The_Blip on
I feel like this post if filled with Americans commenting on an article they haven’t read about a country they don’t live in.
British petrol retailing is extremely competitive. Prices rises fairly gradually over the past few weeks since war broke out. Before that petrol prices were deflating and driving down inflation metrics. I agree with the article; there isn’t much of any evidence of price gouging in the UK over petrol.
7 Comments
Historically, i thought there was big time gap to changed prices
Asymetric though.. Increases 4-6 weeks, decreases 6-8 weeks
Seems more instantaneous now
Yes. The prices went up here the second the US bombed Iran. The fuel in the tanks and on its way, was already paid for well before the conflict began.
Oil from delivery at the refinery takes around 2-4 weeks to arrive at a gas station. Any price increases before this time are not based on current costs.
The question I see here is do corporations screw you over the first chance they get? Absolutely. They will increase prices before the costs go up and decrease prices after the costs have gone way down. Usually prices go up by x% but then only go back down by (x-y)%
When US patient zero was quarantined at the beginning of Rona the price of pretty much every medical supply doubled within a week and doubled several more times since
There’s typically a 1 month lead time between the companies placing their orders, and the customer pumping the fuel into their car
Logically you’d expect prices to go up about a month after a price shock hits the wholesale market, and drop again a month after prices drop
Instead they rise instantly when wholesale prices go up, and *maybe* slowly drop again a month or two after wholesale prices drop
A cornerstone of capitalism is maximizing profit without any concern of the ethical or moral implications of the act. The expectation is that any efforts will adhere to laws so any action would be legal, but there is nothing in capitalism that requires you to have empathy or any kind of concern for what happens from your actions.
I feel like this post if filled with Americans commenting on an article they haven’t read about a country they don’t live in.
British petrol retailing is extremely competitive. Prices rises fairly gradually over the past few weeks since war broke out. Before that petrol prices were deflating and driving down inflation metrics. I agree with the article; there isn’t much of any evidence of price gouging in the UK over petrol.