In my hometown Weston, WI. The station owners used to set down each day bright and early and decide on price at a local restaurant, I got to sit nearby as they discussed the fuel price for the day when I was up early to go to a craft show.
I have no doubt that they still do that, it is worth noting that my hometown is almost always 5 cents to as much as 20 cents per gallon more than other nearby areas. I can't remember them ever being cheaper.
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Originally Posted by California98Civic
Agreed. And it is the same standard at the national level. But at the international level, the standard of collusion collapses. Thus, OPEC colludes on capacity in order to set a price and it is not illegal. OPEC is the lead player in a global oligopoly.
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This isn't exactly true, of coarse I am talking a national level still but Opec has many times wanted to lower prices in recent years but was not able due to the market price not being dictated by the price out of the ground but instead the price the middlemen in the commodities market set, which is run like a stock market and has much less to do with any real price stimulous and everything to do with feelings and manipulation.
Cut out the middleman and the prices might stablize around the real market price. Right now there is huge anti-market activity going on within the commdities trade making it so demand and price no longer coorelate.
You can thank Reagan for the oil commodities market having no real controls set on it.