Despite plummeting oil prices, gas prices went up 15% in January. I didn't keep track of the dates, but at my station the price is up from a low of $1.57/gal to $1.88--while the price of oil has continued to drop.
1. Is this the invisible hand in action, or is it one hand washing another? Surely the oil companies wouldn't try price fixing in this market...or would they, with or without government collusion? Are new taxes being passed on to the consumer? What's going on?
2. Why hasn't this obvious price increase been mentioned by the media?
3. Why hasn't it been mentioned by our representatives, who are ever vigilant on our behalf?
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