The last time oil was $70/bl gas was $2.79 - why isn't it right now?

[Deja Q]

It's $2.29.

Also, for a bad economy, it didn't seem to stop anybody from driving to their stores 15 miles away to buy things...

Of course, this may not be the same nationwide... and I'd swear that half the stores I'd gone to were filled with the latest recipients of "Reverend" Moon's multiple matrimony cult scams... (multiple matrimony... whatever. two men want to get married and that's a no-no. Marry 100 people at once, nooooooooooooooo problem. No ID check either... :think: At least KQRS Morning Show (sleazy radio program who makes me look like Mr. Prude by comparison) stopped that infantile game more than a decade ago...)

[PWRinNY]

1. I wish it was 2.29 here

2.69 here

[mike_c]

2. $2.66 in Blue Lake, CA....

eom

[bluestateguy]

3. It takes a few days

Oil prices are a leading indicator for the price of gas. The latter will catch up to the former in a matter of days.

[salin]

4. Last time there was a threat on the hill about "windfall taxes"

so perhaps the gas companies realize they can gouge... but up to a point. Perhaps they realize that they can still make hand over fist money on the gas hikes but not quite the oceans of profits, and by doing so they might avoid pushing more repubs to join dems on the idea of windfall taxes.

[Warpy]

5. It went from $2.28-$2.31 here

to $2.39-$2.42 last Thursday, a day after I'd filled up. It's heading up there, and I think they're just trying to raise it a few cents every few days to avoid alarming people too much.

However, you're right, it's headed back up to the $2.70-3.00 range again.

[stray cat]

6. I haven't seen 2.29 for a long time

[Zynx]

7. Oil prices and gas prices aren't directly linked.

However, we will see higher gas prices in the coming weeks that will rival old prices.

Btw, the reason why they are not directly 100% linked is that they trade as different commodities. Normally they move by almost the same, but not always.

[Uben]

8. Why its not as much

When the prices were so high last fall, it was a direct result of hurricane Katrina disabling the reineries along the gulf coast. Gas prices will follow the rise in oil, but it will take about 30 days to see the total impact of higher oil. You can bet they are going to gouge us again before the elections. As long as republicans refuse to do anything about any injustice, it is a free ride for any corporate fleecing of the public.

[high density]

9. I've seen $2.37-$2.50 in Maine

[Mnemosyne]

10. We went from 2.50 down to 2.46! No sense to it at all, n/t

[dogday]

11. Prices will go up like hell during Spring Break

all those kids and their cars heading to the beach, better bring lot's of money, they will need it....

[Scout1071]

12. Great question. $2.17 in Kansas City. I was thinking that this morning

and filled up first thing when I saw the gas sign because I thought it might spike. I wonder why it hasn't?

[SoCalDem]

13. Gas prices from 1999-current and the margins...chart

http://www.energy.ca.gov/gasoline/margins/2005.html