The price of Oil is down 35% from August 5th.. meanwhile prices at the pump are down 7% ?

are those poor under-profited oil companies still struggling against all those nasty speculators? Or are they banking on the fact that people having dealt with 4.10 a gallon gas are pacified with 3.89 a gallon gas ?The price of Oil is down 35% from August 5th.. meanwhile prices at the pump are down 7% ?
They are price gouging people, and nothing short of that. Gas is a staple that people use as a means to utilize being productive in their life. It is a Utility and should be treated as such. This cr$$ about being nice to them is BS. They are not playing fair and should be investigated for this...of course you can't have people who profit from these actions actually being head of the investigations.The price of Oil is down 35% from August 5th.. meanwhile prices at the pump are down 7% ?
Those nasty speculators are the oil companies. Deregulating the commodities market (so industries can drive the price of their own raw materials up and their product's value) has lead to sky-high prices of necessities that used to be protected from drastic price increases with ceilings. Now it seems that food and transportation is increasingly a thing for the rich. That's wrong!
It proves there is no such thing as a ';Free Market'; and that free markets are never free and nor do they work as a market system. It proves that the oil corporations are more interested in keeping as much profit as possible and they get away with it because there is no real energy competition. It's not like Americans have a choice to buy an electric car because no one is making them. We are dependent on oil and the oil corporations like it that way.
People are stupid -- I'm still waiting for truckers to park their rigs across Washington DC.. but that ain't happening either. There's NO protests, just like Cheney must have drawn it all up, or nodded at least.. as they raped the Country for the last big Summer... prices went up BEFORE Ike hit, by the way.





Meanwhile Stock analysts on TV are scratching their heads about where to put your money -- when its been BIG OIL for 7 years now.
';Or are they banking on the fact that people having dealt with 4.10 a gallon gas are pacified with 3.89 a gallon gas ?';





Haha yeah probably - you know what they say, a commodity is worth only what people are willing to pay for it... that's what the free market is all about...
I only paid $3.55 for my last tank of gas and I'm pretty sure it was over $4.10 at it's highest, but I'll need to verify that. Still not down 35%, but it's much closer.
I think it's the latter. It's a good thing that Florida has started to subpoena some of the price gougers.
oilmen in the White House........





Mission Accomplished!!
Gas here is $4.35 since IKE!
Down? It went up $.35 in the last 7 days
Retail prices lag wholesale prices which lag crude oil prices. Both on the way up and on the way down. It's called ';sticky price'; and it causes retailers to have ultra-thin margins (gross margin per gallon of a nickel) when prices are rising and fatter margins (gm/gallon of 15 cents) when prices are falling.





http://ideas.repec.org/a/mcb/jmoncb/v36y…





Also please note, for the most part the retailers are independent - the ';oil company'; that pulls the oil out of the ground is not the same ';oil company'; that ships it to the refiner, which is not the same ';oil company'; that transports via pipeline or tanker the refined product to the wholesaler, which is not the same ';oil company'; that trucks the oil to the retailer, which is also not the same ';oil company.'; Oil and refined products as a whole is one of the most fragmented industries there is.
It takes several months for the oil price to catch up to the price at the pump. Remember, cyclical patterns in the cost of oil and gas - it's always high in the summer and winter when usage is high - and it's lower in the fall and spring. It'll catch up. Watch for a rise again right around the election. Happens every year.






What was the price of gas (when oil prices were going up) at $100 per barrel and then at $150 per barrel? The price of gas only went up slightly, even though oil increased by 50%!





Why didn't you and Mr. O'Reilly ';complain'; about that?
thats how the economy works. supply and demand, the system that runs in every government. if people are paying it the price will not change.
Prices go up faster than they go down, that's how it works.
Speculation
STFU, if you owned an oil company you would do the same thing.