We all get sticker shock at times when we stop off to fill our gas tank….but then it comes down a wee bit and we accept that as a lower price.

But why are all gas prices within a couple of cents of each other?

I believe that is called ‘price fixing’.

Consumer advocates demanded congressional hearings on alleged price fixing by oil giants on Monday after the Federal Trade Commission banned an executive from serving on the board of Chevron, saying he had colluded with international representatives to keep oil prices high.

The FTC said it would prohibit John B. Hess, CEO of the Hess Corporation, from serving on Chevron’s Board of Directors as part of Chevron’s acquisition of the company, citing Hess’ public and private communications “with the past and current secretaries general of the Organization of Petroleum Exporting Countries (OPEC) and an official from Saudi Arabia.”

“In these communications, Mr. Hess stressed the importance of oil market stability and inventory management and encouraged these officials to take actions on these issues and speak about them at different events,” said the FTC.

The FTC’s complaint marks the second time since May that an oil executive has been accused of collusion and price fixing to ensure Americans would continue paying high prices for gas, adding an estimated $500 per year, per vehicle, in fuel costs for the average U.S. household.

…

Rep. Mark Pocan (D-Wis.) said that “jail time should seriously be considered,” highlighting the financial pain Sheffield’s actions added to households already struggling to afford groceries, childcare, and other essentials.

The five largest U.S. oil companies have reported more than $250 billion in profits over the last two years.

https://www.commondreams.org/news/ftc-oil-price-fixing

But I will bet that these thieves get away with it….after all they own the Congress.

It is not just the oil industry that is doing this….agribusiness….car dealers….you pick a commodity and there will be some sort of collusion going on.

These corporations will get a slap on the wrist and pay a small fine and promise to never do it again….a promise that is broken before the ink is dry on the deal.

Time for somebody to step up and take on these thieves….and I wait.

I Read, I Write, You Know

“lego ergo scribo”