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June 16, 2008
Think Of This When You Pay $4 A Gallon
"I'm not being mean"
A Devon petrol station is charging drivers more than £1.99 a litre - or about £9 a gallon - for petrol and diesel as drivers clamour for fuel.The Foxhayes station at Exwick near Exeter has put all grades of petrol and diesel up to £1.99 a litre.
The manager said the move was to conserve stocks and said he was not being mean.
It follows a four-day strike by Shell tanker drivers in an industrial dispute over pay.
£9 a gallon. That's $17.70.
And he's worried about being thought "mean"?
Heh.
Posted by Mr. Bingley at June 16, 2008 01:47 PM
Comments
Actually, it makes a lot of sense. In '79 or thereabouts, when supply was limited and stations ran out, one local just jacked up his price to about double the others and stayed open 24 hours (all others had limited hours). He did it specifically so that he would always have gas available if someone desperately needed it, even middle of the night, made it so that anyone who didn't really need it wouldn't buy it up.
And no, he didn't make much, if any, money off it, but that wasn't the reason he did it.
Posted by: Ken S, Fifth String on the Banjo of Life at June 16, 2008 02:58 PM
Yes, Ken - and that is exhibit A for Why Price Controls Don't Work.
Posted by: nightfly at June 17, 2008 10:43 AM