Consumers nationwide are reporting shortages of premium fuel. That's after Tuesday's price drop led to what's being called a "Sudden and unanticipated spike in demand." It's a change in consumer behavior that has left gas stations running short, and the Supplies Control Unit having to ensure that they replenish stock.
And tonight in a press release the SCU is reminding those stations of their obligation to supply price-controlled commodities to consumers. It's a warning to any fuel station that may have been purposely maintaining low levels of premium to desist from the practice.
Of course, what's happening here is just plain economics. The price of premium had not come down for months - and the dealers knew that a big price drop was coming. Whenever that came, dealers stood to lose money because they would have to sell their existing stock for below cost. So, they were all running with very low reserves, waiting for the price change. When the price did change, this limited reserves ran out almost immediately. Those stations are now re-filling with the cheaper stock as soon as the tankers can reach them.
Email
Print