So there was a minor scare of sorts as apparently the country ran low on Petrol. I noticed the Shell Gas Station on Vissengen Road shut and it is sad to think I just assumed it got robbed!
Apparently there was a delay in uplifting fuel from the Venezuelan refineries.
So this is very interesting -- my cousin sniffed his nose and informed me that the fuel was poorer quality from the Government managed Petrol Stations but now we discover that all fuel-- Shell, Rubris (formerly Texaco) and the humble Guyoil all get their petrol from THE SAME PLACE!
My recent foray with economics says that for perfect competition to exist, the product must be the same --check; the buyers must be so informed --check; many sellers-- check; therefore the perfect price should exist - right-- nope-- the sellers organised themselves to jack up the prices so that the Government was forced to open and run Guyoil to sell about $22 cheaper to keep the prices down-- mind you better yet would be to turn a blind eye to fuel smuggling from Venezuela and get really serious competition for low fuel prices-- in the midst of all that is not working it would surely be better for the country to buy from people willing to sell across the border??
Apparently there was a delay in uplifting fuel from the Venezuelan refineries.
So this is very interesting -- my cousin sniffed his nose and informed me that the fuel was poorer quality from the Government managed Petrol Stations but now we discover that all fuel-- Shell, Rubris (formerly Texaco) and the humble Guyoil all get their petrol from THE SAME PLACE!
My recent foray with economics says that for perfect competition to exist, the product must be the same --check; the buyers must be so informed --check; many sellers-- check; therefore the perfect price should exist - right-- nope-- the sellers organised themselves to jack up the prices so that the Government was forced to open and run Guyoil to sell about $22 cheaper to keep the prices down-- mind you better yet would be to turn a blind eye to fuel smuggling from Venezuela and get really serious competition for low fuel prices-- in the midst of all that is not working it would surely be better for the country to buy from people willing to sell across the border??
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