"Price fixing is a conspiracy between business competitors to set their prices to buy or sell goods or services at a certain price point." From businesslaw-freeadvice.
I've heard over and over about the historically gigantic record profits being realized by the oil giants, and it makes one wonder why one of them, let's say Royal Dutch Shell, for example, doesn't cut their per-gallon gas prices by, let's say, 50 cents a gallon. If gas is currently around 4 bucks a gallon, even at $3.50 Royal Dutch would still make a huge profit on gas sales, even moreso because EVERYONE in town would flock to the Shell station and buy their gas there. Undercutting the competition's price to gain more business and drive the competitors out of business is what Wal-Mart is all about, and it's undeniably effective. In the god-eat-god world of corporate profit lust, it's a proven strategy. Yet EVERY gas station in EVERY town sells their gas at the same price, or within a few cents at most. Even Valero, having made huge expenditures to allow them to refine cheaper, heavy sour crude, stays at the same price point.
Yet, when was the last time you heard any politician even claim that they were going to launch a serious investigation into this most blantantly obvious example of price fixing...or, in this case, should I type, price-fisting?