'Corporate greed drives artificially high prices at the pump,' according to a new analysis by accountable_us.
Over the past four months, Big Oil has rushed to raise gasoline prices—sometimes charging far more at the pump than the increased cost of oil would warrant—and dawdled to lower them when crude's valuation declined, according to a new"The longer Big Oil's predatory pricing scheme persists, the graver the cost to American consumers and the country's economic health."
Sometimes, price hikes at the pump have closely resembled changes in the crude market. For instance, a 3.73% increase in oil spot prices from April 29 to May 6 was mirrored by a 3.34% increase in retail gas prices from May 2 to May 9. Meanwhile, when the cost of crude has fallen, Big Oil has been slow to act—if at all—and gas prices have either continued to soar or declined only slightly from one week to the next.
Even when the industry has lowered retail gas prices, it has failed to do so at a rate commensurate with the falling cost of crude.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Biden's climate allies ramp up attacks on Big Oil ahead of earningsBiden's climate allies ramp up Big Oil attacks ahead of earnings reports
Consulte Mais informação »
Marvel's Next Big Thing is Some Big Comic Book StoriesWe got shields, we got goblins, we got Hickman, and who knows what else.
Consulte Mais informação »
Gold price slips as investors prepare for another big rate hikeThe biggest factor influencing gold is the anticipation of the Fed meeting, analyst said.
Consulte Mais informação »
Bank of England policymakers torn on need for big rate move next weekThe Bank of England is weighing up whether to raise interest rates by the most since 1995 next week in order to stop the surge in inflation from becoming a long-term problem for Britain's economy.
Consulte Mais informação »
Edward Waters product Buck O’Neil, Boston’s Big Papi among honorees at Baseball Hall of Fame inductionFormer Boston Red Sox slugger David Ortiz was inducted into the Hall of Fame as legions of fans cheered him.
Consulte Mais informação »
European Markets Nudge Lower in a Big Week for Earnings and Monetary PolicyMuch of this week’s focus will center around the Fed’s two-day policy meeting, concluding on Wednesday.
Consulte Mais informação »