@Dryden@mastodonapp.uk
Having worked for a small petroleum company somewhat tangentially (SysAdmin), I can confirm that this is the standard method of long standing-- it's called "price sticking," in which the retailers keep the price as high as possible for as long as possible and then only come down in the smallest steps they can get away with. Since everyone in the industry is aware of the practice, it requires no illegal collusion or price fixing agreements. The price only comes down when demand does. Hence, here we are.