Oil is $66 a barrell but gas prices are creeping up?

[WishIHadaGN]

I paid $1.77 here in Independence Mo yesterday. I know that there is a Q.T. station that is $1.75 in Independence.

 

[toofastforyou]

Can someone explain WHY is it that when the price of the barrel of crude oil goes up, the price at the pump goes up, BUT when the price of the barrel comes down, the price at the pump DOES NOT come down with it... ???

Claude.

 

[Gary Wells]

Could it be that the price of crude is an indirect driver of speculation and speculation is the primary driver of the cost of fuel? The oil industry uses virtually anything as an excuse to limit production, thereby reducing the excess fuel stored. Greed drives speculation which drives profit, or fuel cost.

 

[DSR-TurboT]

Can someone explain WHY is it that when the price of the barrel of crude oil goes up, the price at the pump goes up, BUT when the price of the barrel comes down, the price at the pump DOES NOT come down with it... ???

Claude.

They are two different commodoties. Weekly inventory data affects the price of either one to go up or down. Inventory reports usualy hit the market on wednesdays. Inventory goes up price goes down.

 

[Johnboy]

Can someone explain WHY is it that when the price of the barrel of crude oil goes up, the price at the pump goes up, BUT when the price of the barrel comes down, the price at the pump DOES NOT come down with it... ???

Claude.

I wondered the same thing, seems to me when the price of a barrel goes up so does the price immediately. When it goes down it seems to take forever, maybe it's just me feeling like I'm getting screwed.

 

[bison]

I wondered the same thing, seems to me when the price of a barrel goes up so does the price immediately. When it goes down it seems to take forever, maybe it's just me feeling like I'm getting screwed.

Your getting screwed any way you look a it. Even if it was $1/gallon. About 40 cents of it is f'in tax. We have absolutley no control over the price of gas. Only are driving habits. I hope no one in this thread pays any credit card interest if their complaining about the cost of fuel. lol!

 

[GSX-PKV]

here, 60 miles from Chicago, the price drops just about every day... it's about $2.16 today

 

[Pronto]

$2.23 in Arlington Ma yesterday.
The federal gas tax is $.18 so when gas was $4 a gallon tax was a bargin.

 

[qwknuf6]

1.77 today

 

["Turbo-T"]

I saw it for $1.85 at Wally world and then the Caseys where I filled up yesterday had it at $1.91

I recall earlier this year Dodge was offering a $2.99 a gallon gas guarantee if you bought a new Dodge. And to think would you still have to pay $2.99 a gallon when everywhere else is cheaper?

 

[Gary Wells]

$ 2.44 (87 octane), $ 2.54 (89 octane), & $ 2.64 (91 octane) Arco, least expensive station that I know of in my area, let's hear it for the people's Republik of Kalif. And these prices are pretty typical of SoCal Arco stations. Brand names such as Chevron are typically about $ .10 - $ .13 more.