OIL DROP BRINGS NO RELIEF TO THE PUMP
The two claim that owners of the US's 160,000 gas stations are not dropping retail gas prices in line with the drop in oil because they want to fatten their anemic margins.
"Of course, motorists are getting hosed," says Weeden & Co.'s Charles Maxwell, who's known as the "dean" of energy analysts.
"The dealers at the pump will often wait several days before passing along the drop in crude prices - and I don't blame them," Maxwell said. "If their competitors aren't going to drop the price, the dealer isn't."
Pretty soon they won't have a country in which to sell their ice cap melting, green house gassing fossil fuel.
0 Comments:
Post a Comment
<< Home