Wow! Free Markets Work!

Remember how everyone was suspicious when the price of gas climbed suddenly? I keep expecting everyone to begin complaining about low gas prices and sudden fluctuations in price (somewhere, the Lord of Truth is laughing). USA Today noted that the price of gas is down over the past month. Of course, empirical proof that markets work can't be the reason, at least according to some people:

A hefty 42% of Americans polled over the weekend said they think fuel prices are being manipulated by the Bush administration to help Republicans in an election year. The USA TODAY/Gallup Poll has a margin of error of 3 percentage points.

Petroleum analysts say the reasons are less Machiavellian: Supplies are above average, partly because summer's high prices attracted record imports. Hurricanes haven't knocked out Gulf of Mexico production. U.S. regulations permit a cheaper-to-make fuel blend in fall and winter.

“Without a shadow of a doubt, there is not any manipulation, and it has nothing to do with the approaching election,” says Peter Beutel, head of energy-price consultant Cameron Hanover. The petroleum market is “too big a market to manipulate. The price just … could not sustain itself.”

As it happens, I was at the Wawa in Gainesville, Virginia (which was mentioned in the article) on my way back from a wedding on Saturday night. Gas was actually down to a $1.97 by the time we stopped there, although the article said it was at $1.99. But to keep the conspiracy theorists happy, I think I did see Republican operatives paying off my Indian brethren who owns the store to keep lowering the price.

I also grabbed myself a Wawa hoagie and a vanilla milkshake. Sometimes, you don't realize what you're missing. Someone needs to explain to me why I don't have a Wawa anywhere within the Beltway.