Gas prices seem to keep going up, too frequently. According to ABC, buying gas could even be more expensive than what we see posted at the pump:
Consumers are feeling the pain at the pump, as gas prices have risen for nine straight weeks.
Now lawsuits around the country claim drivers are being ripped off in a gas gouge they can’t even see.
There are at least nine lawsuits pending that claim some gas stations are padding their profits by selling warm gasoline.
According to the article, the cost impact of this might be:
An investigation by the Kansas City Star newspaper found that American drivers may overpay $2.3 billion a year, with drivers in warm states like California hit the hardest.
ABC News story, here.
Of course, the industry (petroleum) is arguing these statistics.
You can e-report suspected gas gouging to the DOE (Department of Energy) by linking, here.
DOE states that:
All complaints registered with the Department of Energy will be collated and transmitted to the Federal Trade Commission, U.S. Department of Justice and individual State Attorneys General for investigation and prosecution where appropriate.
Unfortunately, no one has ever been able to prove the oil companies were gouging consumers.
Still, the way they raise prices doesn’t make a lot of sense to a layman like myself?
Meanwhile Reuters is reporting:
Occidental Petroleum’s (OXY) chairman and chief executive took in more than $400 million in compensation last year, the company said in a filing, one of the biggest single-year payouts in U.S. corporate history.
Reuters story (courtesy of USA Today), here.