Right now, the price of oil is trading at about 89.00 per barrel. When oil was traded at $144 a barrel, we never paid more than $4.00 per gallon. Why are we still paying $3.50 per gallon at the pumps when the price of oil has almost been cut in half? Looking at that math, we shouldn't be paying over $2.25 per gallon at current oil prices. What exactly am I missing here? With oil prices currently at record lows, why aren't we seeing gas prices drop?
start thinking that 4.50 a gallon will be the good ole days... as soon as the US gets out of the economic recession expect light crude to jump to over 200 + a barrel.With oil prices currently at record lows, why aren't we seeing gas prices drop?
You need to move.
It's around $2.90 a gallon in NJ.
Because of corporate greed.
Oil prices have dropped 40% since July. They had excuses as to why the prices were going up, and now they have excuses for them not going down. Remember when oil companies advertised their gasoline? Now they spend money on ads to convince you that they're the good guys, while they rob you blind at the pump.
Pure corporate thievery. And they want more tax breaks too. .
Carbon taxes
Its still $C1.25 a liter here. About $U5.00 per gallon.
Supply/Demand. With Hurricane Ike, refineries and pipelines were shut down up to 2 weeks. When there isn't a great demand, oil goes down (main reason for that right now-no one has money to buy gas). It will continue to go down once the regular flow to the pipelines is complete and all refineries are up and running. Unless people start buying it all up again, then it will go up.
Well it is a 2 fold deal. When oil prices go up, we see a jump at the pump because gas stations sell gas at a price that will allow them to purchase gas at the higher price when they need more. When prices drop, it takes longer to see it at the pump, because gas stations are not going to sell the gas for less then they paid for it. So it jumps fast and comes down slower.
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