Friday, October 19, 2012

Letter to the Editor: Truth Behind High Gas Prices

The Insider posts Letters to the Editor as a courtesy to readers, opinions do not necessarily reflect those of the Insider.

Truth Behind High Gas Prices
Many of us were taught that supply and demand of a commodity establishes the market price of a product. The higher the demand and the shorter the supply, the higher the price.

Always stated but not really explained. Suddenly the same gas costs more just like magic. Rather than supply and demand, let us call it supply and greed. The poor slobs need it so let's rip it to them. Remember this one, "charge what the market will bear"? This means the price is held higher and higher until people cannot afford the commodity and demand drops off. The commodities cost never went up they just get more and more for it. They did not teach us any of this in Economics 101 did they?

Tom Salafia
Middletown, CT

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