The mundane

I had an ongoing feature on my other blog (before blogger deleted it) comparing gas prices from time to time. It was during the run up around the end of August. Prices topped out after Hurricane Rita and for a longer period than for Katrina. I think $3.099 was common regular price for a few weeks. Slowly it fell, and about a week or so ago - I was seeing $2.619 at a few low cost places. But, then I took a day or two off work and last Friday, two stations prices were down to $2.379, and others were in the $2.459 range. In less than a few days, a 25 cent drop is remarkable. Usually we see sudden spikes and very gradual declines. This is unusual. What it tells me is that the prices were super inflated, probably unnecessarily.

Then you read about Exxon/Mobil's $10 Billion profit for the quarter. Set a record. $100 billion revenues. Another record. It is even more than Wal Mart. And my gas bill is $120 per month when it used to be $45.

Yeah, I know, retail price isn't about cost directly. Retail price is what the market will bear and based on supply and demand. Supposedly. But then you think about 10 Billion dollars - more than the GDP of many countries.