tag:blogger.com,1999:blog-7203434871622236670.post8213009530054431405..comments2015-08-06T02:35:39.664-07:00Comments on Business Adventure ©: Price of gasoline in America is approximately 2000% (thousand!) higher than the price of gasoline in Venezuela. What accounts for this gap?Kavita Patelhttp://www.blogger.com/profile/14603807204405513000noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7203434871622236670.post-8261391871065665012011-08-26T08:46:19.925-07:002011-08-26T08:46:19.925-07:00Hey Doug- Great point! The market for gasoline is ...Hey Doug- Great point! The market for gasoline is a very (if not perfectly) competitive market- there are too many companies to have a profit beyond a certain point because all the sellers are in competition. Also, the profit to companies may be 7 cents, but isn't it a possibility the government is also taking a large percentage of the revenue?Kavita Patelhttps://www.blogger.com/profile/14603807204405513000noreply@blogger.comtag:blogger.com,1999:blog-7203434871622236670.post-15463044137600739552011-08-24T12:47:57.211-07:002011-08-24T12:47:57.211-07:00Great blog. However, one question: if oil companie...Great blog. However, one question: if oil companies "take advantage of the fact that gas is a necessity," why is a typical profit only 7 cents per gallon? <br /><br />http://mjperry.blogspot.com/2011/04/gasoline-taxes-per-gallon-vs-exxon.htmlDoug Morehttps://www.blogger.com/profile/18177708594485489401noreply@blogger.com