President Ludwig von Mises is out here throwing down the gauntlet:
Look, my message is simple. To the companies running gas stations and setting those prices at the pump: Bring down the prices you're charging at the pump to reflect the cost you pay for the product. Do it now. Do it now. Not a month from now — do it now. And it's going to save people a lot of money.
Uh huh.
Look, economics can be a somewhat complicated subject. But this is very simple. If gas station companies could simply "bring down the prices" they're charging at the drop of a hat, they obviously would.
Why? Because lower prices means more customers. If you're the only gas company in town charging $2.75 per gallon while everyone else is charging $3.45, you're going to capture pretty much the entire local market, viciously undercutting your competitors and making absolute bank all the while.
There is absolutely no reason for a gas company to keep their prices elevated in this market any longer than they have to. They're all ruthlessly competing with each other to charge the lowest possible dollar per gallon. If they can get their prices lower, they do it.
Other than that, yes, great advice, Mr. President, I'm sure they'll listen to you!
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