Happy Thanksgiving from Big Oil – A Nice Price Gouge

Gas PumpIt’s the start of Thanksgiving week and people all over the country are making their travel plans to visit family or friends to feast and generally pig out.  An estimated 40-50 million travelers will be filling their gas tanks and hitting the roads. Not wanting to break tradition, “Big Oil” has a nice Thanksgiving surprise for you – a lovely holiday Price Gouge!

Yep, not ones to miss an opportunity, they have once again ramped up their gas prices just in time for one of the most traveled of holidays. I woke up on Thursday to find prices had jumped ten-cents per gallon; and on Friday I woke up to find prices had jumped another ten-cents per gallon (Hmmm, feels like Groundhog Day!).

Okay, so you say it’s just twenty cents per gallon more, that’s pocket change. But let’s do some math here: let’s say just 25 million travelers fill up a 12 gallon tank one time:

  • 12 Gallons  (x)  $0.20 per gallon extra = $2.40 additional profit per tank for “Big Oil”
  • $2.40 per tank additional profit  (x)  25,000,000 travelers  = $60,000,000 additional profit for “Big Oil”

SIXTY-MILLION DOLLARS IS NOT POCKET CHANGE… IT IS A RIP-OFF!

What if the travelers had to fill up their tank twice, or three times for the round-trip. I’ll let you do your own math on that…

Now I’m sure someone is going to say that number is over-inflated because that twenty-cents is not pure profit, etc. Bull crap. The buying/selling of oil and gas is just a paper shuffle. That oil was extracted and refined long ago. The gas that cost twenty-cents more today is the same gas that was in their storage tank two days ago selling for twenty-cents less.

I’m sure you get the point. A simple manipulation of gas prices by a few cents can generate millions in profit to the already fat-cat “Big Oil.” This sounds like a prime example of “price fixing” to me. But is anyone in Washington ever going to do anything about it? Of course not. “Big Oil” supports them all during their re-election campaigns.

In mean time, all of us common people will continue to say “it’s just twenty cents per gallon more, that’s pocket change.”

2 thoughts on “Happy Thanksgiving from Big Oil – A Nice Price Gouge

  1. Not only that, Big Oil like Exxon pays taxes at a rate lower than the average American because they hoard all their money overseas. If corporations, and the 1%, just paid their share of taxes we wouldn’t be in the situation we’re in today with the sequester, etc.

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