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Conference nyoss1::market_investing

Title:Market Investing
Moderator:2155::michaud
Created:Thu Jan 23 1992
Last Modified:Thu Jun 05 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1060
Total number of notes:10477

798.0. "big jump in gas prices--local (MA) or global?" by NAC::14701::ofsevit (card-carrying member) Mon Dec 05 1994 13:37

	About a week ago, the price of gas (at least in Massachusetts) 
jumped about 6 cents/gallon.  All the companies seem to have done it; 
that's how the "free market" works.  :-)

	Was this a local phenomenon, or did it happen everywhere?

	This is not usually gas price increase time (late spring is).  I 
saw nothing in the press about it.  Does anybody know what's going on?

	Have other products like heating oil been affected?

	A big across-the-board increase in energy prices like this could 
have repercussions for the economy, yet I haven't seen it mentioned 
anywhere.

		David
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798.1New Formulation of gasCONSLT::DALRYMPLEMon Dec 05 1994 13:445
798.2Can you spell "collusion"?NAC::14701::ofsevitcard-carrying memberMon Dec 05 1994 14:227
re .1

	So why would they all come out with it over a month early, with no 
accompanying publicity/explanation/blame-shifting, and all the companies at 
exactly the same time?

		David
798.312368::michaudJeff Michaud, UC1Mon Dec 05 1994 15:1412
> 	A big across-the-board increase in energy prices like this could 
> have repercussions for the economy, yet I haven't seen it mentioned 
> anywhere.

	You should get out more :-)  It's been in the newspaper several
	times the last couple of weeks, and on CNN HN.

	I believe I first read it in the paper over the summer.

	In any case, it's not the whole country, the Feds are only
	requiring it in a limited number of places.  Other places
	are doing it that aren't [yet] required.
798.4Let's all do it at once and be efficientEVMS::HALLYBFish have no concept of fireMon Dec 05 1994 19:2812
>   So why would they all come out with it over a month early, with no 
    
    The price rise was brought to you by the U.S. "we don't care how much
    it costs you" Environmental Protection Agency, and was announced well
    ahead of time. The penalties for being even one day late can be
    really huge, while there is no penalty for being 30 days early.
    
    I can't say for sure whether there was collusion or not, but you seem
    to be under the impression that the higher price represents profit to
    the oil companies. It does not.
    
      John