The American consumer (which, I am one) is a buffoon. I filled up my tank today and it cost $51 - I drive a four door sedan. I nearly shit my pants.
Most people don't even look at gasoline prices. Its like toilet paper, milk, tampons, condoms - consumers will pay whatever the asking price because we simply can not live without these things. I think the economic jerk-offs call it 'inelastic demand.' That is, demand is unaffected by price.
The thing is, nothing in our lives has such wide price swings as gasoline and no one can look you in the eye with a clear explanation that makes sense. Today gas is $2.89, two days ago it was $2.74. Its the same freakin gas!
About 18 months ago the price of a gallon of gas spiked and some parts of the country had a gasoline shortage. The oil companies used this time of fear and panic to raise prices and systematically retain those elevated levels ever since. They are making an absolute killing.
We are sheep, ignorantly living our lives in our miserable pastures, following our fellow consumers to the slaughterhouse or worse, waiting for a wolf to bite into our throat and drain our blood.
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