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July 11, 2005

Latest FTC investigation of gasoline prices

For about the thousandth time in the last 30 years, the federal government investigates gasoline prices and finds that they are determined primarily by . . . competitive supply and demand.

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» Gasoline prices from Miscellany
Craig Newmark notes that the FTC has found that they are determined by supply and demand. Who knew? Still not clear. Here are the key points from the FTC press release: The Phoenix example provides three basic lessons regarding the... [Read More]

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If anyone wants to study the effects of supply and demand, the oil and gas market is probably the best one to study. It is one of the purest markets there is.

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