[Tublecane]

I’ve got news: there is no such thing as price-gouging. Raising price always lowers demand, and sellers know it. When supply goes down, demand has to go down, otherwise the market doesn’t clear appropriately. What idiot lawmakers don’t uderstand is that high prices are there to help people. Without price as a rationing function, some people would fill up gallon jugs of gas to store in their garages, while others would go gas-hungry.

[unspun]

When supply goes down, demand has to go down, otherwise the market doesn’t clear appropriately.

Wrong.

If you need to get down the road, to get to work, you pay anyway.

If you have a heart attack, you go to the hospital, anyway.

[unspun]

When supply goes down, demand has to go down, otherwise the market doesn’t clear appropriately.

Wrong.

(I'm talking about actual demand, not demand affected by supply.)

[Blood of Tyrants]

The rush is lemming panic buying. There is 20 days worth of gas in storage. No one is going to go without except the places where price controls are in place.

[gidget7]

So? storing gas in garages or barns is used for mowers and such, why is that a problem? And the more it's sold, the lower the price should be, not the other way around. If it weren't, when people stop buying it, because it's too high or they can't afford it, the price does come down.