“lower prices will not show up at your gas pump for several months”
Prices are set by product bought months before it reaches the market. Futures, in other words. But the people holding those futures can jack or lower prices today if they worry they didn’t do a good job of projecting future price movements. Prices can decline when and if they realize their futures were bought at a good level. That’s due to price competition. But from a distance consumers don’t see all that going on and come up with fairy tales to explain price movement.
Why is it that ALL the gas stations in my area ALL raise the price within a couple of hours of each other. SMH
You know much more than I.
I was amazed the gas prices weren’t already higher with all the Houthi strikes against various nations’ ships passing through the Red Sea or ships avoided the cheaper route by taking a huge detour:
News item:
From October 2023 to March 2024, the Houthis attacked more than 60 vessels in the Red Sea. To avoid attack, hundreds of commercial vessels have been rerouted to sail around South Africa.