Originally Posted by Traveller
What I don't understand is why they raised the prices so quickly? Isn't there still gas in the stations underground tanks?
Well, this is the free market at work. Every single day, executives in the gasoline industry (and many other industries) guess what it is going to cost to replace their supply. If they guess too high, it will be lower when that happens. If they guess too low, they will make it up later. I look for $4 averages tommorrow. Actually, this might be a good thing...after a few days at $4 per gallon, maybe we won't think $2.50 is so bad.
Plus, they may today have purchased the gasoline that will end up in your tank in a week or so.