Me too, and I'm still a novice on a scale of things.
There is another side of the fence however... 3 years ago I got 'pally' with a CFI and part owner at a certain club and we got talking hire rates. They were extortionate (hire rates then exceeded what I pay now), and the CFI actually laughed and admitted that they ripped off students and low houred pilots, the planes in question were appalling.
They also charged astronomical rates for fuel. When I questioned it, they said it was 'because they can' and said that they wouldn't alter prices to be more in-line with the 'going rates' unless bookings started to tail off.
Supply and demand I guess...