Quote:
Originally Posted by redpoint5
Price gouging is a made up, fictitious concept. The price is always as high as the market will bear, and we don't call the prices we're used to "gouging".
The only way petrol stations could get away with artificially high prices is if they were all colluding.
If you're upset at the prices, just know that CA has the highest taxation on petrol of all the states. No matter what the cost of petrol is, 80 cents is baked in as taxes.
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considering the lowest price in the state for gas is $1.55
and
$2.99 is more then 10% of $1.55, it is PRICE gouging
the market does not bare that price..
oil is at 1-2$ a barrel right now as i have predicted.. i told you guys on monday it was going to crash! in a panic sell off!
oil storage tanks are over flowing with product..
as a state of emergency as been declared
Once a state of emergency is declared, California Penal Code § 396 prohibits “excessive and unjustified increases” on a range of basic goods and services. Barring justification, an excessive increase is an increase of more than 10 percent above the price charged by the person in question for the same goods or services immediately before the declaration of emergency. (Cal. Penal Code § 396(a).)