Oil Industry Does Not Jump at Priceline's Offer

from the no-cheap-gas-prices-for-now dept

Priceline made a lot of news when it announced it was going to let people bargain for cheaper gas prices. Some people (including myself) were skeptical. It seemed like a lot of trouble to go through to get cheaper gas. I also wasn’t sure logistically how it could work. Of course with gas prices at ridiculous highs, plenty of customers made it clear they were willing to test out the service. Of course, I didn’t even think about the oil companies’ thoughts on the matter. Apparently, neither did Priceline. Apparently almost all of the big oil companies have turned down the opportunity to work with Priceline and they make a very good point: if an airline doesn’t sell a seat, then it’s lost, so it makes sense for them to work with Priceline. Gas will sit there until someone pumps it.

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