Alan, It's not up to the President to determine what happens it will be dictated by the laws that are on the books and whatever the attorney general decides to do with them. I'd suggest we save our receipts for a while & see what happens. It is possible that a class action suit would qualify those who submit for it a refund, I have received several letters over the years stating that with proof I could get a money back but never had the receipt for anything worth pursuing.
Right on! It is fun to blame whoever you don't like for these things. Some people will blame Congress, and others will blame Bush (oh, I would like to). But the truth is - It really is supply and demand. The oil companies/refiners/distributors control the supply and we have the demand (if we wish to go to work, take the kids to school, and get groceries...)
However, it is not a simple textbook supply/demand situation, because the consumer cannot just decide to buy from a different distribution network. If you don't like the price of a toaster at company A, you can drive down the street to company B and buy it cheaper. Each store has it's own supply network and pricing strategy. But all the gasoline in your area comes from the same cartel, so the retailers have to pass on the cost. Now, some stations will be cheaper than others, but they all go up together. And they know the demand will be there, because most of us have no choice but to drive to work! It IS total BS, but I'm not sure what people expect the federal government to do.
But the attorney general in your state might have something to say. Here in Michigan, there was price gouging after September 11, 2001. Our Attorney General (now our Governor) successfully sued the distributors and retailers for price gouging, and won a HUGE settlement for customers. As stated above, though, you had to have your receipt. So, it is good advice - Hang on to your receipts, and watch what happens in your state.
By the way, we are getting the short end of it here. Our gas is among the highest in the nation right now, and nobody knows why. It is well over $4/gallon, despite the fact that the price of crude keeps going down! Maybe our current AG should have a look at this!
-Tom
