This piece from Houston illustrates why price spikes occur. Do people and public officials who warn against "gouging" really want suppliers to charge low prices even if the result is that there is no product? What good is that?
The result will be at least a temporary return to $4 gasoline before it falls back toward $3 in November and December, said Tom Kloza, chief analyst for the Oil Price Information Service.
More good analysis from CNN... where they explain that it is consumer behavior that drives prices higher, not "gouging."
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