Oil companies once again gouging Northerners
For years and years it has never failed to astound me how big companies take every chance they get to gouge consumers.
as sad and devastating as a natural disaster such as hurricane harvey is, big companies seem to take such disasters for a reason to hike their prices and they always do it immediately. they claim that they themselves have to buy the product or raw material at a higher price.
it is funny, though, how they always are out of stock at the beginning of a crisis (and thus in need to buy) but at the end of it they claim to still have high-priced inventory for weeks. this, according to them, is the reason why they cannot lower the prices (at the pump in this case) for a long time.
if i as a private person would always stock my supplies at the highest prices i would soon go bankrupt. it strikes me as very odd, to say the least, that highly paid professionals in charge of purchasing for big companies seems to do just that.
i realize, of course, that there are limits to how companies can manage their inventory, storage capacity being a big one. Still, it is an almost impossible coincident to always be out of stock when prices are going up and always have inventory to capacity when they come down.
So how much of those price hikes are really due to hurricane harvey and why are prices at the pump going up instantly but then stay there for weeks? if the impact of closing refineries is instantaneous, why is the same not true for re-opening them?
Sue Reiser, Trout Creek