There was a small statement made by Mitt Romney about the price of gasoline being $4.00 a gallon during the second Presidential debate last evening. The price of gas in our area dropped 20 cents overnight, prompting my wife to send me a text message to buy fuel for the cars and mowers. Every four years the oil companies lower the price of gas for two to three weeks prior to the election, they have done so for the past four Presidential elections. Could oil companies be lowering prices to cause voters to forget about oil companies when going to the voting booth?
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So you are saying that every four years for a few weeks before election day competition between wholesale and retail gas suppliers suddenly decreases until about a week after election day? That is a wonderful coincidence.
I didn't say anything of the sort. I said that at the moment the spread between wholesale and retail gasoline prices is unusually wide. I have never seen it so wide before, election year or not. They have room to drop quickly for whatever reason.
The gas prices have dropped three to four weeks and stayed low until the Presidential election is over. This has happened for every Presidential election since gas went over two dollars a gallon in 2003 and this is because the price gap has widened?
The spread between wholesale and retail gasoline prices is abnormally wide right now. Don't take my word for it. Look it up.
Where can I find the specific information you are citing?
Look at gasoline futures charts and compare them to retail gasoline charts. There are also some recent articles on the Internet that cover this topic. It appears to be due to short supply of gasoline due to regional blends and refiner maintenance.
Antitrust laws prohibit gasoline companies from coming to decisions on prices. As a former employee of an oil and gas trade association, I have seem people scramble out of rooms, if someone mentioned prices or how much fuel was available.