Chevron Corp.'s refinery fire in Northern California serves as the latest excuse to immediately raise gas prices even though, as this article points out, most stations get their fuel under long-term contracts. In other words, the stations' cost to supply our gasoline has not yet been affected.
When will gasoline be considered a critical resource equivalent to electricity?
If PG&E were to have a broad-scale equipment failure causing it considerable repair expense, that's a risk of doing business the company takes and is insured for. It can't simply raise its prices without authorization.
Why is gasoline not subject to a similar oversight? Or would that too be considered (shudder) a socialist policy?
Arroyo Grande, Calif.