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Dec 30th, 2023
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 Re: Price Gouging?
[Re: donothin]
#13537695
04/28/20 04:00 PM
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Joined: Jan 2010
Posts: 6,725
Dognot
TFF Celebrity
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TFF Celebrity
Joined: Jan 2010
Posts: 6,725 |
I consider 28.00 for a case of water to be price gouging, But we including me have paid 1.20 for a single bottle at the convenience store...….Gouging?
Sometimes what didn't work out for you, did in fact, work out for you.
Haters going to hate and believers are going to believe.
Every man has two lives,The second one starts when he realizes that he has only one.
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.”
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Re: Price Gouging?
[Re: WAWI]
#13537828
04/28/20 05:15 PM
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Joined: Jul 2014
Posts: 1,989
SAKS
Extreme Angler
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Extreme Angler
Joined: Jul 2014
Posts: 1,989 |
Bunch of people seem OK with cheap gas/oil right now. Does that swing both ways? I'm not ok with cheap gas and oil. No Texan should be. As nice as it is on my bank account cheap gas is a sign and not a good one.
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Re: Price Gouging?
[Re: Uncle Zeek]
#13538026
04/28/20 07:35 PM
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Joined: May 2008
Posts: 3,825
donothin
OP
TFF Team Angler
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OP
TFF Team Angler
Joined: May 2008
Posts: 3,825 |
Should you be able to increase the price to off set the times when you sold at a loss?
Thoughts? The times you sold at a loss aren't relevant to now. What your profit margin needs to include is enough to cover the risk that you may not get any more product at all, or that your supply chain may be interrupted and you'll have periods of time with empty shelves and nothing to sell. Is it price gouging when you pay $5 or more for a 16 ounce bottle of water inside a sports event or theme park? How about $10-$12 for a whole case at a grocery store during supply interruptions, even though you can sometimes get them on sale for $5? If I were a retailer again, I'd need enough profit to ensure that I would continue to stay in business after things had settled. Being "socially responsible" does no good if you end up drawing unemployment. Not relevant, Is that a legal argument or just your thoughts. If you are in a business that has ups and downs, then you have to cover the downs to survive. Usually the ups come when for some reason supply is short caused by something out of the ordinary. This just a philosophical discussion for me as I have nothing much involved. But if I were a local pork producer with access to a local slaughterhouse, I would want to take advantage of the big guys being down for awhile. And no, $5 for a bottle of water is not price gouging in my mind. It is non essential and if people are dumb enough to pay it, go for it.
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Re: Price Gouging?
[Re: donothin]
#13538031
04/28/20 07:40 PM
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Joined: Sep 2005
Posts: 27,569
Uncle Zeek
aka "Dad"
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aka "Dad"
Joined: Sep 2005
Posts: 27,569 |
Should you be able to increase the price to off set the times when you sold at a loss?
Thoughts? The times you sold at a loss aren't relevant to now. What your profit margin needs to include is enough to cover the risk that you may not get any more product at all, or that your supply chain may be interrupted and you'll have periods of time with empty shelves and nothing to sell. Is it price gouging when you pay $5 or more for a 16 ounce bottle of water inside a sports event or theme park? How about $10-$12 for a whole case at a grocery store during supply interruptions, even though you can sometimes get them on sale for $5? If I were a retailer again, I'd need enough profit to ensure that I would continue to stay in business after things had settled. Being "socially responsible" does no good if you end up drawing unemployment. Not relevant, Is that a legal argument or just your thoughts. If you are in a business that has ups and downs, then you have to cover the downs to survive. Usually the ups come when for some reason supply is short caused by something out of the ordinary. This just a philosophical discussion for me as I have nothing much involved. But if I were a local pork producer with access to a local slaughterhouse, I would want to take advantage of the big guys being down for awhile. And no, $5 for a bottle of water is not price gouging in my mind. It is non essential and if people are dumb enough to pay it, go for it. I say "not relevant" because I view it as similar to sunk cost - that's my economics degree coming out.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein
Artim Law Firm, PLLC
Estate planning & tax attorney
2250 Morriss Road, Suite 205, Flower Mound, Texas 75028
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Re: Price Gouging?
[Re: donothin]
#13538058
04/28/20 07:59 PM
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Joined: Sep 2003
Posts: 18,070
Icepick
TFF Guru
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TFF Guru
Joined: Sep 2003
Posts: 18,070 |
And no, $5 for a bottle of water is not price gouging in my mind. It is non essential and if people are dumb enough to pay it, go for it.
Wait... Did you just say water is non essential? And before you suggest tap water is just fine look up Flint, Michigan.
This thread needs more cowbell ... ![[Linked Image]](http://gryphonfootball.files.wordpress.com/2012/06/th_more_cowbell.gif)
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Re: Price Gouging?
[Re: machinist]
#13538065
04/28/20 08:03 PM
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Joined: Nov 2018
Posts: 704
Lon Hagler
Pro Angler
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Pro Angler
Joined: Nov 2018
Posts: 704 |
Check this here in Graham reg. gas is $1.78 a gal. 60 miles North in Wichita Falls it is $1.21. Not sure how much it is in DFW but I am guessing it is about like Wichita. I believe 57 cents a gal. Difference is probably considered price gouging. Head up 287 another 100 miles and gas is even cheaper in Childress. It is not gouging.There may be other factors you are not privy to. Final price is visible, but you don't always see how they arrive at that price.
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Re: Price Gouging?
[Re: donothin]
#13538079
04/28/20 08:13 PM
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Joined: Jul 2010
Posts: 9,367
bigfishtx
TFF Celebrity
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TFF Celebrity
Joined: Jul 2010
Posts: 9,367 |
If there are cheaper options available, it's not gouging, it's someone trying to take advantage of a situation. It's your privilege to participate or not.
Keep the Lord in your heart and keep your powder dry.
5:5
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Re: Price Gouging?
[Re: Lon Hagler]
#13538087
04/28/20 08:16 PM
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Joined: Sep 2008
Posts: 121,172
hopalong
Pescador Loco
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Pescador Loco
Joined: Sep 2008
Posts: 121,172 |
Check this here in Graham reg. gas is $1.78 a gal. 60 miles North in Wichita Falls it is $1.21. Not sure how much it is in DFW but I am guessing it is about like Wichita. I believe 57 cents a gal. Difference is probably considered price gouging. Head up 287 another 100 miles and gas is even cheaper in Childress. It is not gouging.There may be other factors you are not privy to. Final price is visible, but you don't always see how they arrive at that price. a lot of the difference is cost of transportation, loves, flying J/pilot, murphys etc all can buy in bulk and avg shipping costs better. small independents have to pay as they go most of the time, not hard to add 25c for transportation. the farther away from the refinery, and more remote the location the more to deliver. fuel tanker drivers usually are paid a nice premium.
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Re: Price Gouging?
[Re: donothin]
#13538100
04/28/20 08:21 PM
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Joined: Sep 2008
Posts: 121,172
hopalong
Pescador Loco
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Pescador Loco
Joined: Sep 2008
Posts: 121,172 |
my take on this: if in a normal business day you can charge xxx.xx $ for your products/services and your competition charges yyy.yy $ for the same service undercutting you by a good percentage yet you still have more sales then go for it.
if the same sees more than a 15% mark up during a disaster or anything that affects everyone then, no, you are profiting from others problems and misery. I can understand a small percentage due to supply concerns etc. but doubling, tripling prices is wrong on all accounts by me.
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Re: Price Gouging?
[Re: hopalong]
#13538114
04/28/20 08:27 PM
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Joined: Aug 2013
Posts: 2,234
Pinkus
Extreme Angler
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Extreme Angler
Joined: Aug 2013
Posts: 2,234 |
Check this here in Graham reg. gas is $1.78 a gal. 60 miles North in Wichita Falls it is $1.21. Not sure how much it is in DFW but I am guessing it is about like Wichita. I believe 57 cents a gal. Difference is probably considered price gouging. Head up 287 another 100 miles and gas is even cheaper in Childress. It is not gouging.There may be other factors you are not privy to. Final price is visible, but you don't always see how they arrive at that price. a lot of the difference is cost of transportation, loves, flying J/pilot, murphys etc all can buy in bulk and avg shipping costs better. small independents have to pay as they go most of the time, not hard to add 25c for transportation. the farther away from the refinery, and more remote the location the more to deliver. fuel tanker drivers usually are paid a nice premium. They are gouging, all of them..I have a fleet discount of cost plus.. yesterday my price was 1.24 and pump price was 1.89 on diesel.. before the rona my discount only got me 30-40 cents off a gallon.. now it’s .65 cents.
Last edited by Pinkus; 04/28/20 08:28 PM.
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Re: Price Gouging?
[Re: hopalong]
#13538116
04/28/20 08:28 PM
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Joined: Jan 2010
Posts: 6,725
Dognot
TFF Celebrity
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TFF Celebrity
Joined: Jan 2010
Posts: 6,725 |
Check this here in Graham reg. gas is $1.78 a gal. 60 miles North in Wichita Falls it is $1.21. Not sure how much it is in DFW but I am guessing it is about like Wichita. I believe 57 cents a gal. Difference is probably considered price gouging. Head up 287 another 100 miles and gas is even cheaper in Childress. It is not gouging.There may be other factors you are not privy to. Final price is visible, but you don't always see how they arrive at that price. , loves, flying J/pilot, murphys etc all can buy in bulk and avg shipping costs better. small independents have to pay as they go most of the time, not hard to add 25c for transportation. the farther away from the refinery, and more remote the location the more to deliver. fuel tanker drivers usually are paid a nice premium. Here in Midland we have some of the Highest gas prices in the state, It is refined in Bigspring 40 miles way, They get their raw crude from Midland tank farms. I think they are high because people will pay it. not just transportation It is still $2.10 here in places hardly none under 1.50 per gallon.
Sometimes what didn't work out for you, did in fact, work out for you.
Haters going to hate and believers are going to believe.
Every man has two lives,The second one starts when he realizes that he has only one.
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.”
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Re: Price Gouging?
[Re: donothin]
#13540547
04/30/20 05:29 PM
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Joined: Aug 2006
Posts: 4,011
machinist
TFF Team Angler
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TFF Team Angler
Joined: Aug 2006
Posts: 4,011 |
We have 5 public gas stations here in Graham. Two Alsups, two independents and Walmart. Walmart is 3 cents a gal. Cheaper and the other 4 are all the same. So yeah I would say they have got together on their prices.
I fish on the edge and stay out of the middle
99 BassCat Jag w/225 Merc Optimax
Retired TXU Outage Manager
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