3 ms·
Suppliers for lots of things charge whatever people will pay regardless of current market conditions. From time to time I read about lobster surpluses, where pr
by jliptzin 6y ago
Suppliers for lots of things charge whatever people will pay regardless of current market conditions. From time to time I read about lobster surpluses, where prices for distributors plummet and they just can't get rid of them. But when I go to the supermarket the price hasn't budged even $1. The supermarket knows the average consumer isn't aware of the fluctuations in the wholesale lobster market and even if they are, who's going to change supermarkets just to save a few bucks on one item.
- sjg007 6y agoLobsters can be frozen.. gasoline is more elastic b/c it does eventually expire.
- latch 6y agoI don't think it's reasonable to imply that fuel is more perishable than meat. Crude oil doesn't go bad. Besides, the [non]-perishability of either doesn't see to really be a factor in either, does it? Maybe the closest factor for oil is storage, as we saw recently when prices went negative.
- hansvm 6y agoFrozen foods have a limited shelf life too.