Why does gas fluctuate prices so much from day to day? Why don’t they have a set price, like how most goods are?

Question

Why does gas fluctuate prices so much from day to day? Why don’t they have a set price, like how most goods are?

In: Economics

Answer 1

How many commodities have a fixed price?

The price of eggs have been up and down an absolute ton on a regular basis for years now.

Things like iPhones have a fixed price because Apple have such massive margins and a lack of competition that it just sets a price and eats any changes in the costs of the parts. There are too many egg producers and their margins are too small for that model to work out for eggs.