Is that legal?
That's my question, I was just told it was on the radio that gas in the Myrtle Beach, SC area was over $6.00 a gallon. Does anyone out there know if this is true? What kind of criminal charges could these people face?
Capitalism, my dear friend. Supply and demand.
"....Dogs and cats sleeping together, MASS HYSTERIA!!"
Seriously, the markets should settle down once news about the SPR release and EPA waiver hits the wires. Nonetheless, gouging isn't pretty.
Consumers should remember the companies and vendors who do it and adjust their future choices. On the Macro, market punishment really works. I see it crush many a bad business.
"Is that legal?"
Yes, it is. It's called competition.
Monopolies, other than natural monopolies which are regulated by the states, are illegal of course.
If the FTC was doing its job, it would be investigating what the station bought the gas for and what its selling it for! Was there any price gouging in the aftermath of Katrina?
Yes, this is the American way.
Unfortunately, it probably is against the law.
Ideally, it would be legal.