joekar1990 comments on Americans Have Paid $148B Extra on Gas Amid Iran War. Big Oil Has Made $130B in Profits.

[+] joekar1990@lemmy.world -9 points 5 days ago (3 children)

I love seeing all the big oil is totally price gouging comments when it's a global market.

[–] Triumph@fedia.io 10 points 5 days ago* (last edited 5 days ago) (1 child)

They can price gouge globally, or just in certain markets. They're buying crude and selling us refined fuels that have been in the processing pipeline for years.

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[–] potatomuncher@lemmy.ca 8 points 5 days ago

That's because they charge us the replacement price when it costs more to buy crude.

They aren't quick to charge us less when the prices come down.

A handful of companies control the entire market. They do whatever they want and pretend it's not them it's "the free market".

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[–] skittle07crusher@sh.itjust.works 5 points 5 days ago*

My brother in oil, have you ever heard of cartels/price-fixing/etc.?

Check out OPEC, or the Phoebus Cartel, for instance

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