Now This Is Price Gouging…
Speaking of price gouging, Metroblogging Miami came across a gas station in Miami Beach that is charging $3.55 and up for a gallon of gas. This gas station is located on 41st St and Royal Palm Ave, and I would drive past it every day to and from school (my sister still does).
I'm taking back what I was originally going to write about this (which was that it is a terrible thing). After considering my last post a bit more, I suppose that if people are willing to pay this much for gas, then the gas station is entitled to charge that amount (during a state of emergency, this is not the case). Without another gas station within a 20 blocks radius and the first/last one encountered when going from/to the airport to Miami Beach, this might just be a result of monopolistic competition (and taking advantage of poor, innocent tourists).
Technorati Tags: Miami Beach, Miami, Florida, Shell, gas station, price gouging, competition, monopoly, economics, gas, oil