GasBuddy Blog

Message Forum - Read Message

Category: Boycott/Gasout Talk > Topics	Add to favorite topics Post New Topic

Author	Topic: 24 hour advance warning for all fuel price increases	Post a Reply Back to Topics

hotlubo Rookie Author Montreal Posts:9 Points:647,135 Joined:Nov 2009	Message Posted: Aug 17, 2010 8:34:02 PM Ignore hotlubo Report Abuse It would be a major victory if we can get the politicians to pass legislation saying that gasoline/diesel retailers must give 24 hrs advance warning for price increases. After all, there is someone, somewhere telling the retailers to raise their price. To make it dramatic, a simple red flag (danger) attached to the pole holding the sign for the gas station could be used. If prices are not raised in 24 hours, legally, everyone who bought gas would bring in their gas receipt and get a price differential refund +10%, to prevent cheating ! There have been numerous price gouging complaints and politicians always say, there is nothing they can do about it. Well, at least, give us a warning ! What do you think?

hotlubo

Rookie Author
Montreal

Posts:9
Points:647,135
Joined:Nov 2009

Message Posted: Aug 17, 2010 8:34:02 PM

Ignore hotlubo Report Abuse

It would be a major victory if we can get the politicians to pass legislation saying that gasoline/diesel retailers must give 24 hrs advance warning for price increases. After all, there is someone, somewhere telling the retailers to raise their price.

To make it dramatic, a simple red flag (danger) attached to the pole holding the sign for the gas station could be used. If prices are not raised in 24 hours, legally, everyone who bought gas would bring in their gas receipt and get a price differential refund +10%, to prevent cheating !

There have been numerous price gouging complaints and politicians always say, there is nothing they can do about it. Well, at least, give us a warning !

What do you think?

REPLIES (newest first)Ignore Short Messages

First

Next Last

Michael29644 Champion Author Greenville Posts:4,945 Points:839,375 Joined:Jan 2011	Message Posted: Mar 9, 2011 9:13:28 PM Ignore Michael29644 Report Abuse The dynamics of the market would work to prevent it. And no, I'm not talking about any conspiracy stuff. Any time you trade something as a commodity, trader speculation will have a profound effect on the market in times of uncertainty. The market must be allowed to adjust to these problems on its own. This is one area where government intervention can do more harm than good.
aaronbau Rookie Author Chicago Posts:5 Points:2,825 Joined:Mar 2011	Message Posted: Mar 9, 2011 1:12:42 PM Ignore aaronbau Report Abuse yeah
BCERB Champion Author Victoria Posts:2,297 Points:425,015 Joined:Jul 2009	Message Posted: Mar 9, 2011 12:53:33 AM Ignore BCERB Report Abuse Increased government involvement = increased prices overall.
pjhbac Veteran Author Montana Posts:426 Points:44,350 Joined:Aug 2008	Message Posted: Mar 8, 2011 2:53:38 PM Ignore pjhbac Report Abuse I wouldn't mind voluntary 24-hour notice, but NO-NO-NO to government getting involved. They have already helped to eliminate anything resembling a free market in the oil industry.
TreasuryGuy Champion Author California Posts:3,011 Points:1,261,285 Joined:Jun 2008	Message Posted: Feb 17, 2011 9:02:59 AM Ignore TreasuryGuy Report Abuse Gas_Buddy is right on point.
Gas_Buddy Champion Author Maryland Posts:25,948 Points:3,030,065 Joined:Aug 2004	Message Posted: Feb 17, 2011 8:53:39 AM Ignore Gas_Buddy Report Abuse Ironic that no one who agrees with the original post suggesting that the politicians who are supposed to pasas legislation saying that gasoline/diesel retailers must give 24 hrs advance warning for price increases, is saying that there should be 24 hours advance warning for price decreases, meaning, I guess, they expect to be "ripped off" by not being told that, if they wait, they'll get cheaper gas. Also interesting is that "If prices are not raised in 24 hours, legally, everyone who bought gas would bring in their gas receipt and get a price differential refund +10%, to prevent cheating", that no one has commented that 10% is about three or four times the mark-up a gas station makes and that any sudden price increase - through no fault of a gas station, perhaps because of a short notice delivery under increased pricing, would ruin the business. But then, hotlubo, who started this whole thing, isn't responding to anyone, is he.
WES03 Champion Author Maryland Posts:4,823 Points:1,261,370 Joined:Feb 2009	Message Posted: Feb 17, 2011 4:43:27 AM Ignore WES03 Report Abuse Hey, then we could create gas lines on that "day before." Sit in line wasting more gas.
TreasuryGuy Champion Author California Posts:3,011 Points:1,261,285 Joined:Jun 2008	Message Posted: Feb 16, 2011 12:37:42 PM Ignore TreasuryGuy Report Abuse priceit is right on point: "This idea is silly. If anyone really thinks that the gas retailing business is that easy and that profitable, buy a station and cash in. In fact go the whole route, sell your gas really cheap to 'give the consumer a break' and see how long you are able to stay in business." Any sort of warning system is economically destructive and downright silly. Why don't you force a grocery store to notify you when the price of potato chips go up? Silly.
WahlyIA Champion Author Iowa Posts:4,467 Points:815,065 Joined:Jan 2011	Message Posted: Feb 15, 2011 3:10:38 AM Ignore WahlyIA Report Abuse Agreed and great thought
WhyNotRide Sophomore Author Indianapolis Posts:144 Points:156,955 Joined:Jan 2011	Message Posted: Feb 14, 2011 2:50:27 PM Ignore WhyNotRide Report Abuse Would be nice
OU812ou All-Star Author Grand Rapids Posts:524 Points:78,155 Joined:Aug 2008	Message Posted: Feb 14, 2011 1:29:37 PM Ignore OU812ou Report Abuse ROTFLMAO
priceit Champion Author Portland Posts:17,671 Points:3,187,410 Joined:Sep 2003	Message Posted: Feb 13, 2011 8:02:23 AM Ignore priceit Report Abuse This idea is silly. If anyone really thinks that the gas retailing business is that easy and that profitable, buy a station and cash in. In fact go the whole route, sell your gas really cheap to "give the consumer a break" and see how long you are able to stay in business
travelzonecente Champion Author Riverside Posts:3,842 Points:1,089,445 Joined:Jun 2008	Message Posted: Feb 12, 2011 7:18:51 PM Ignore travelzonecente Report Abuse read my posts....I post it all the time as soon as I get my info.
chasmaster All-Star Author Toledo Posts:535 Points:151,435 Joined:Jan 2011	Message Posted: Feb 12, 2011 12:23:07 PM Ignore chasmaster Report Abuse never will happen
bubaluie Sophomore Author British Columbia Posts:164 Points:27,610 Joined:Jan 2011	Message Posted: Feb 12, 2011 12:17:46 AM Ignore bubaluie Report Abuse thatll never happen
scoutmaster Champion Author Pittsburgh Posts:81,177 Points:3,250,695 Joined:Mar 2003	Message Posted: Feb 11, 2011 10:49:31 AM Ignore scoutmaster Report Abuse This is one of the dumbest idea's I have ever heard of!
NewPJ Rookie Author Colorado Posts:8 Points:11,555 Joined:Apr 2005	Message Posted: Feb 10, 2011 9:35:38 PM Ignore NewPJ Report Abuse This would be great, however, I asked one of the managers at a local station and they told me that they actually had to drive through town three times a day to check the prices at the other stations so they could always be lower, so it's constantly changing. I also read that there is no shortage, they just take every "event" that comes along to use it for an excuse to raise the prices again. If there was just some way to function in this day and age without using gas, we could do something to affect the supply and demand, but when you live in a area with no other transportation and everything is many miles away, it's just not feasible.
UP-Skier Champion Author Twin Cities Posts:13,356 Points:2,958,045 Joined:Oct 2002	Message Posted: Feb 10, 2011 9:03:41 AM Ignore UP-Skier Report Abuse I think that we have enough government intrusion already.
Backes01 Rookie Author Dallas Posts:7 Points:300 Joined:Jan 2011	Message Posted: Jan 20, 2011 3:00:06 PM Ignore Backes01 Report Abuse I think that you want the government to regulate you to death. Why not have the grocery do the same when the price of potatoes goes up, or the price of beer. We could require that the electric company put a red flag on your meter everytime prices go up. Even a better idea; have them come get your car on the night before the price increase is effective and fill it up for you.
KhelbenArunson Champion Author Michigan Posts:4,425 Points:713,865 Joined:Apr 2008	Message Posted: Jan 20, 2011 8:47:31 AM Ignore KhelbenArunson Report Abuse I don't think they would want to slow down sales to be honest...If they did it would just cost them more money.
TreasuryGuy Champion Author California Posts:3,011 Points:1,261,285 Joined:Jun 2008	Message Posted: Jan 18, 2011 1:27:15 PM Ignore TreasuryGuy Report Abuse Thinking about it more, the gas station owner would leave the red flag up permanently. Hey, prices are going up in 24 hours. Well, I changed my mind and didn't raise prices. Now GManCo, you have to be polite to a Canadian. They have very good manners... Or they may drop the gloves and get a game misconduct. ;-)
GManCo Champion Author Colorado Springs Posts:4,981 Points:947,815 Joined:Sep 2010	Message Posted: Jan 18, 2011 8:20:36 AM Ignore GManCo Report Abuse What is wrong with the people in the U.S. that always want the nanny state to protect them. Get real and start taking care of yourself. We don't need the government to make any more stupid laws. Please stay in Montreal.
scoutmaster Champion Author Pittsburgh Posts:81,177 Points:3,250,695 Joined:Mar 2003	Message Posted: Jan 14, 2011 2:04:14 PM Ignore scoutmaster Report Abuse The idea of getting politicians more involved in anything is absurd!
TreasuryGuy Champion Author California Posts:3,011 Points:1,261,285 Joined:Jun 2008	Message Posted: Jan 13, 2011 10:13:17 PM Ignore TreasuryGuy Report Abuse Another simple economics lesson. If stations were required to post a flag when prices were going up in 24 hours, this would most likely happen... The owner of the gasoline would post his red flag, as required by law, and then close the station for the remainder of the day. Or if that direct action was outlawed, then the pumps would mysteriously quit working or pump at a 1 gallon per 10 minute flow rate, the electricity would mysteriously go out or the toilets would overflow, closing the station. Think about the incentives here.... The owner of the gasoline would do everything to slow down sales. Of course, nobody says in this forum that a green flag should be posted when prices are about to decline. In all fairness, should passer-bys be REQUIRED to buy gas on those days?
TreasuryGuy Champion Author California Posts:3,011 Points:1,261,285 Joined:Jun 2008	Message Posted: Jan 13, 2011 10:08:13 PM Ignore TreasuryGuy Report Abuse Pretty simple economics here. What something is worth isn't necessarily tied to what is costs to produce. Read that last sentence again. And Again. If you bought a gold coin for $1,000 and tomorrow prices went to $1,300, your cost basis is still $1,000. If our forum comrades say that 5% is a proper profit margin, then are these posters saying you should be required to sell it at $1,050? Alternatively, gold prices could go to $800, and you still have a cost basis of $1,000. However, if try to sell it at $1,050 or any price over $800, you will still own your gold coin.
steelers6 Champion Author Indiana Posts:5,429 Points:1,132,585 Joined:Jan 2010	Message Posted: Jan 12, 2011 2:15:10 AM Ignore steelers6 Report Abuse That would be great
m0m0f2wins Rookie Author Ontario Posts:24 Points:4,740 Joined:Dec 2010	Message Posted: Jan 7, 2011 5:33:17 AM Ignore m0m0f2wins Report Abuse That would be nice
Gas_Buddy Champion Author Maryland Posts:25,948 Points:3,030,065 Joined:Aug 2004	Message Posted: Dec 28, 2010 4:26:15 AM Ignore Gas_Buddy Report Abuse And to add to what rumbleseat wrote, a gas station doesn't simply sell gas until the tanks are completely empty, and then refill and sell at a new starting point.
rumbleseat Champion Author Winnipeg Posts:22,905 Points:3,527,565 Joined:Oct 2002	Message Posted: Dec 27, 2010 11:20:53 PM Ignore rumbleseat Report Abuse "Can someone tell me why the gas I buy cost's more this hour than it cost 2 hours ago" Because if there isn't enough in the till to pay for the next load you won't have a station at all. Doesn't it sink in that, if there has to be a 24 hour delay before raising a price after giving notice, simple economics dictate a corresponding delay in posting a price decrease if a business is going to make enough money to stay open?
angelababy Rookie Author Vancouver Posts:67 Points:28,555 Joined:Nov 2010	Message Posted: Dec 27, 2010 9:53:46 PM Ignore angelababy Report Abuse that would be nice.
JubJonn Rookie Author Florida Posts:86 Points:123,395 Joined:Jun 2010	Message Posted: Dec 27, 2010 12:33:21 PM Ignore JubJonn Report Abuse Can someone tell me why the gas I buy cost's more this hour than it cost 2 hours ago even though it's been in the underground tanks for god knows how long and been invoiced at a certain price to the gas dealer?
DJRIO Champion Author Miami Posts:8,025 Points:1,421,585 Joined:Jan 2008	Message Posted: Dec 25, 2010 3:37:00 PM Ignore DJRIO Report Abuse you need warning signs ! watch cnbc news or go the CME web site. you will have plenty of warns there. more 24 hour for sure
shullrd Rookie Author Cincinnati Posts:17 Points:24,070 Joined:Dec 2010	Message Posted: Dec 24, 2010 6:18:33 PM Ignore shullrd Report Abuse I don't know about the feasibility of using the flag system, but it does seem that gasoline changes much more fluidly than almost anything else. When I go to the grocery store in the morning, the price isn't usually different in the evening, although I understand that it is somewhat different with gasoline. At the same time, if Saudi Arabia announces today that the are restricting oil, the price of gas shoots through the roof, even though the gas we have was already paid for. Gas prices go up much faster than they come down.
BCERB Champion Author Victoria Posts:2,297 Points:425,015 Joined:Jul 2009	Message Posted: Dec 19, 2010 9:50:08 PM Ignore BCERB Report Abuse Sounds like the raising of a red flag on rural mailboxes! Sorry - but this idea sounds akin to communism. Just my opinion - no offense intended.
luvmyburgi Champion Author Ohio Posts:5,810 Points:956,220 Joined:Sep 2005	Message Posted: Dec 19, 2010 6:47:30 PM Ignore luvmyburgi Report Abuse I think that would be a good idea.
chipote Champion Author Washington Posts:1,274 Points:388,055 Joined:Nov 2010	Message Posted: Dec 17, 2010 7:30:22 AM Ignore chipote Report Abuse Ridiculous, just fill up whenever gas is lower (afternoons)
jdhelm Champion Author Iowa Posts:11,808 Points:1,195,965 Joined:Dec 2009	Message Posted: Dec 14, 2010 6:17:35 AM Ignore jdhelm Report Abuse not so sure - I'm never in favor of "more govt control" it usually leads to more taxes, corruption and overly big govt waste
MARIOWERX Champion Author Vancouver Posts:15,910 Points:1,635,760 Joined:Oct 2008	Message Posted: Dec 13, 2010 4:09:00 PM Ignore MARIOWERX Report Abuse Très mal idée HOTLUBO!!
gateboy Champion Author Montreal Posts:6,845 Points:1,114,310 Joined:Mar 2010	Message Posted: Dec 13, 2010 3:07:47 PM Ignore gateboy Report Abuse Très bonne idée HOTLUBO!!
JackNC Sophomore Author Greensboro Posts:151 Points:116,540 Joined:Jun 2009	Message Posted: Dec 9, 2010 8:28:15 AM Ignore JackNC Report Abuse I agree they need to give a 24 hour warning especially since they are increasing the prices 10 cents a gallon. That is really ridiculous.
jesanfo Sophomore Author Oklahoma Posts:243 Points:170,675 Joined:Feb 2010	Message Posted: Nov 18, 2010 12:42:02 PM Ignore jesanfo Report Abuse sounds good
PatAZ Champion Author Tucson Posts:9,227 Points:122,020 Joined:May 2008	Message Posted: Nov 18, 2010 10:23:35 AM Ignore PatAZ Report Abuse Good luck with that, how about warnings for supermarkets?
Jay4Runner Champion Author Oakland Posts:10,846 Points:2,344,940 Joined:Apr 2004	Message Posted: Oct 29, 2010 8:35:54 PM Ignore Jay4Runner Report Abuse next idea please...
chambleetiger Sophomore Author Atlanta Posts:227 Points:401,400 Joined:Aug 2008	Message Posted: Oct 27, 2010 11:42:28 AM Ignore chambleetiger Report Abuse do it
scoutmaster Champion Author Pittsburgh Posts:81,177 Points:3,250,695 Joined:Mar 2003	Message Posted: Oct 24, 2010 11:34:06 AM Ignore scoutmaster Report Abuse It's not gonna happen.
Frankb4U All-Star Author San Bernardino Posts:549 Points:119,130 Joined:Oct 2010	Message Posted: Oct 24, 2010 9:31:35 AM Ignore Frankb4U Report Abuse I've seen it in other countries and the lines are loooong
TommyR Champion Author New Jersey Posts:13,390 Points:2,344,000 Joined:Nov 2005	Message Posted: Oct 24, 2010 5:02:41 AM Ignore TommyR Report Abuse Would be nice but it will never happen. Pooiticians would never pass a law that would hurt Big Oil.
Sneakers55 Champion Author Houston Posts:51,253 Points:2,140,250 Joined:Nov 2005	Message Posted: Oct 23, 2010 1:50:20 PM Ignore Sneakers55 Report Abuse hotlubo wrote: >It would be a major victory if we can get the politicians to >pass legislation saying that gasoline/diesel retailers must >give 24 hrs advance warning for price increases. Some Canadian provinces have already gone to price regulation at the provincial level. South Africa does it at the national level. If you had up the price increase warning flag, everyone would come in and suck you dry.
baconnie Champion Author Dallas Posts:2,797 Points:563,210 Joined:Jun 2008	Message Posted: Oct 11, 2010 12:11:46 PM Ignore baconnie Report Abuse I like the 24 hour advance warning because gas is one price on the way down the freeway come back a few hours later and the price went up. That doesn't happen when the prices go down.
Mistchild Champion Author New Hampshire Posts:12,448 Points:2,324,265 Joined:Jul 2006	Message Posted: Sep 9, 2010 1:46:13 PM Ignore Mistchild Report Abuse In the case of at least some of the local stations here, the Station owner/store has no idea of the price until the truck delivers the gas. Then there is Cumberland Farms where one store changed its price 4 times in a day, based on a call from their central location to set the prices. One time the caller goofed on one station and for 10 hours it was $1.20 lower than anyone in the area.