Well, folks, it seems that in spite of crude oil trading at substantially lower rates, local gas distributors have once again, spiked the price -- probably under the guise of, "It's summer, let's fleece the tourists!"
Is it getting to the point where this gouging needs to be reported to some higher agency?
Sure I understand our proximity to Ocean City makes us more susceptible to higher pricing; however, should we really be paying over $0.25 more than the Midwest region where $1.90 per gallon is found throughout states like Texas, Oklahoma and even non-metro parts of Virginia?
It's gotten so bad at some points where some have told me they travel to Virginia to fill up because the price difference is stunning enough to warrant the drive! All I can do is shake my head in disgust!
Watching the oil market is one of my geeky pastimes. In watching the crude pricing fluctuate daily, it becomes apparent something is just not right with our local pricing. And please, don't give me a bunch of rubbish about summer vs. winter grades -- we're well into summer grade pricing so the initial sticker shock is long over. Other states have their summer grades brew, too, and it's a heck of a lot cheaper than anything we've got going on around here!
There's a remarkable relationship between crude pricing and our local gas prices because they're almost non-correlative, with the exception of when oil goes up by a half-point, our pricing sky rockets here on the Shore.
If you think about it, that's a pretty steep price variance and hardly warranted.
Overnight in Salisbury, we went from $2.01 per gallon to $2.15 per gallon for regular unleaded Ethanol (bad corn gas), and crude closed -1.11 with a (-2.31%), real non gas is still hovering around $2.80 per gallon at the local pumps around Salisbury. So what's with the hike?
What's local gas distributors' justification for gouging of $0.14+? If this isn't being fleeced without cause, what is?