Most days on my way to work I pass a Shell station that advertises a price per gallon almost a full dollar over the going rate. These days, that’s almost a 50% markup. When I pass in the early-rush-hour morning, there is almost never anyone filling up there.
Across the street is a Chevron station which charges twenty cents less per gallon. That’s still a huge markup over the average price in the area, but I do see people filling up there. The price looks pretty good when compared to the Shell station.
Which makes me wonder…
What if the Shell station was only keeping a token amount of gas in its reservoirs for the occasional blind idiot customer, and the owners of the two stations split the profit on the sighted idiots who purchase the slightly-less-outrageously-priced fuel at the Chevron?
It would be a crime.
Yes, but not without precedent.