24 July 2008

End the gas price fraud

In the past week, crude oil prices have dropped roughly 15%, from US$147 per barrel to somewhere around US$125.

In St. John's today, gasoline prices dropped 6.5%.  That's after an increase last week.

Promoters of the scheme  - none of them economists evidently - will claim it has benefits.  It's hard to see how, considering that asa  result of government interfering in the marketplace, local consumers are being screwed.  "Regulation" is a sham the actually prevents the marketplace from working properly to deliver benefits to consumers. 

It's long overdue for government to end the fraud of "regulation".

Pay George Murphy to keep track of prices as useful information for consumers, if need be, but scrap the charade foisted on the province by people like Doc O'Keefe.