Shocked: Gasoline Prices Vary Edition

Truth on the Market

From the Attorney General’s Memorandum to the Financial Fraud Enforcement Task Force (HT: Michael Giberson, who is a must read on all issues oil and energy related:

Based upon our work and research to date, it is evident that there are regional differences in gasoline prices, as well as differences in the statutory and other legal tools at the government’s disposal. It is also clear that there are lawful reasons for increases in gas prices, given supply and demand.

See Giberson’s analysis of price gouging laws here.  Michael Salinger, former colleague at the Federal Trade Commission where he was Director of the Bureau of Economics, has one of my favorite lines on the relevant economics.  In writing about the FTC Report on price gouging after Hurricanes Katrina and Rita, Salinger wrote, “as unpleasant as high-priced gasoline is, running out will be even worse.”  Actually, the whole context is…

View original post 218 more words

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s