Gouging Gas Prices

The situation with the gas around northeast Georgia is absolutely outrageous. Due to the tropical storm Hurricane Ike the gas source is very restricted because of the stand still of oil refineries in the state of Texas were the oil for northeast Georgia comes from. The residents from northeast Georgia are scared of the lack of gas, which caused most people to over react. People were racing to any gas station that had even just a little gas, and these people took every ounce of gas to the last drop. Gas stations started to raise their prices and put limits on gas. After the storm touched down most of the gas stations in the surrounding county’s of Demorest raised the prices at least one to two dollars more than what is was originally, and now even three weeks after the storm gas prices are still rising at various gas stations. With the gas prices high and the long wait for gas the majority of the people are very frustrated. Some of these people are extremely mad because they have to go at least thirty minutes away from their homes just to find gas, and one of the biggest frustrations for the people is that once they find the gas they have to wait in a huge line for another thirty minutes before they can even touch a pump to receive gas. I have even heard stories of people waiting to ask gas trucks when they will be delivering again, and even if they say four in the morning the people would get up early to get gas to avoid the lines. I feel that most gas stations are gouging people for the gas because of the storm situation and the oil refineries being slow. This is gouging because the gas stations are taking advantage of the people by raising the gas prices higher than they should be. Capitalism is an economic system based on a free market, open competition, profit motive and private ownership of means of production. Capitalism also encourages private investment and business, compared to a government-controlled economy. I think that the gas stations are at the point were they are just taking the advantage of raising the prices and making as much money as they can off of the customers because of the situation.