So, with oil down to $95./barrell....

[fencesitter]

How come gas is still $3.75/gal.? The price at the pump went up each day (sometimes each hour) as the price per barrell rose. So, shouldn't it drop back to around $2.50 overnight? Huh?

[slackmaster]

1. The oil companies are switching over to "winter blend", so they had to keep prices up

It's not really a problem - In March they'll have to switch back to summer blend, so they'll raise prices again to compensate.

[yellowdogintexas]

2. aren't those futures? The gas in the pumps now was purchased when the oil

was $140 a barrel or whatever.

[TornadoTN]

3. $3.75? It's been at $4.29 here in East TN since Ike - was as high at $5.99

This is madness - are they at the point now where they just don't care what we know or how we react?

[rurallib]

4. I remember when Katrina hit.

Oil went from @$60 to @$75 a barrel. Gas went over $3 a gallon for the first time.
I'd love to see a graph of gas & oil prices over the past 8 years. There seems to be little correlation between the two.
But Hey! what're ya gonna do about it? Drive the electric car? Complain to congress? It is about as close to a monopoly as there is.

[TwilightGardener]

5. Total disconnect, it seems, between oil prices and gas prices sometimes--

other times, there's a direct cause/effect. I'm baffled too. You'd think hurricanes would cause oil prices to rise, but they didn't--but shit going down in Niger and other third-world areas = oil and gas prices through the roof due to speculation. I am nowhere close to understanding how it all works.

[shaniqua6392]

6. It is $4.20 or more around the Detroit metro area.

I would like to get down to $3.75. But in all reality, it should be about $2.50 a gallon with the oil prices right now. We are getting ripped off as usual.

[dysfunctional press]

7. if people are willing to pay the higher price...why lower it...?

:shrug:

some people just don't understand capitalism.

[safeinOhio]

8. they think its supply and demand

really its what the traffic will bare.

[old mark]

9. They have an excuse, and will take any

possible excuse to raise prices.
If oil went to $40 a barrel, I would not expect gas prices to come down below $3/gallon - they have got us used to paying $4 for it, and $3 looks good in comparison.


mark