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Fueling to the Stars: "The Crude Oil Collapses by 12%. But at the Pump You Can't See
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There is a phenomenon that economists call "Rocket and Feathers" literally, "rockets and feathers" and that for weeks has been manifesting with particular evidence on fuel price lists: prices rise very fast when oil increases, but fall like feathers when crude oil drops. "The data confirm it: when crude salt, the adjustment of prices to pump takes place in 1-2 weeks; when it drops, it takes an average of 3-5 weeks. The empirical rule is that an …
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