How is this news? Gas companies have been doing it for at least 60 years. Oil price goes up? Prices go up at midnight. Oil price goes down? You see, friend, this gasoline was made with the expensive oil, there’s a certain lag in the supply chain that we need to account for etc. etc.

Pure capitalism knows just one correct price, and that’s the price that the market will bear. Combine it with a monopoly and sky’s the limit.