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Dear
Visionaries:
If gas demand
is this responsive to a decrease in price, total revenue will increase to gas
station owners who lower their price.
The
problem of higher gas prices should then be self-correcting.
Steve
-----Original
Message-----
From: Wayne H Beebe
[mailto:whbeebe@turbonet.com]
Sent: Monday, October 04, 1999
11:30 PM
To: Vision 2020
Subject: Gas Prices
Previously I
mentioned that Jin's Mart had lowered their gas prices to $1.39 per gal for
unleaded. I checked at Jin's this evening. I was told that by
lowering their prices by 5 cents their business has increased by 30%
Moreover, the loss of revenue per gallon has been made up by the increase in
the sale of other products.
When do you
think the other stations will learn?