How does the price of gasoline work in Palau?

Words from Orakidorm —- 

The price of one gallon of gasoline just went up to $5.16, not really $5.15+9/10th cents. Okay fine, so I am a computer illiterate and can’t even type ninth of a cent correctly. And all the reason why I can’t understand how the price of gasoline goes up and down in Palau. What is the logic?

It seems that when it is announced on CNN that the price of “barrel crude oil” or the “price of gasoline in the US going up”, the price of gasoline goes up immediately in Palau. However, when the same CNN announces that the “price of gasoline just went down in the US”, the price of gasoline in Palau does not come down as quickly. Why is that? Of course the price of gas translates to other cost that we as citizens and residents have to pay such as electricity, water, groceries and for goodness sake, betelnut.

The only explanation that I can see is a business one where, the local gasoline vendors hike up the price gas based on the newscast and not on the price of locally stored stock so that they can enlarge their profit margin. On the other side, the delay of lowering the price of gasoline based on the newscast allows for the local stock to be sold at higher price just a little longer. I presume that even as unsophisticated as I am, I am not that far from the truth because the tankers that bring gasoline to Palau are not arriving based on the newscast.

But can you imagine if the same logic was applied to all commodities sold in Palau including local produced commodities? Can you imagine justifying that the price of taro going up because the price of fuel announced by CNN just went up? What about the price of fish fluctuating based on CNN newscast? Of course we know already that the price of tissue is inflated (no pun intended) but it would be worse if the price fluctuated based on CNN’s newscast on the price of gasoline.

I can understand that the local gasoline vendors are in it for the profit and are milking as much out the newscast as possible with dis-regard to its social effects, after all they are not social workers. I suspect that their business forecast is different and is greatly augmented or supplemented by the newscast.

However, the elected leaders, where art thee? You are supposed to be there to regulate the environment to protect the social welfare of the people who voted for you, so why are you ignoring this issue? Is it because, you are getting enough of our taxes to pay for your salary, as well as pay for your gas so that you can’t feel the effect of the price of fuel? I am not going to even mention the possibility of creating a mass transit system as a possible social transportation solution. I am referring only to the issue regulating this oddity and seemingly unethical practice of price manipulation by the local gasoline vendors, because you are not interested in mass transit discussion. But could you at least be interested in protecting the people’s ability to just get by, because many are not and the minimum wage your proposing will not help many of them through. Clearly the price of democracy is not about intentions, it is about representation.

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