$150 per barrel is 63% higher than $92 per barrel.
Is gas even close to that much cheaper than when it was $150 per barrel for oil?
they arent dropping yet, cause when oil spiked the gas stations werent making any profit on gas, and now they are trying to make it up.
Gas never rose as much as crude did. It won’t drop as much either.
I realize that…prices always skyrocket up and feather back down. However it’s been a couple weeks since they moved at all…it’s about time for them to down down to the 3.60’s at least.
I don’t get how they say we wont see the change at the pumps from lower oil prices for at least a month but when a hurricane comes, within days the prices at the pumps are up 20 cents.
There’s nothing like a hurricane-fueled shortage of retail gas that would suddenly dump a bunch of it on the market.
When oil prices go lower, they still have to pipe it here, refine it into gas, load it on trucks, and drop it off to the station. When there’s no gas coming out of the refinery, the truck doesn’t get filled, and the price spikes big immediately.
Are any stations running out of gas up here? i know down in VA places like Sheets Have no fuel…?
I think/hope the price gouging investigation might help out a bit at the pump. They were saying crude oil prices dropped 35% over the last few months but prices at the pump only decreased by 7%.
sheetz is out near me. tried stopping there this morning.
i did not know they were running out of gas
So many people that have no clue how gas prices work. :picard:
A good read for those of you incorrectly thinking the price spike because of the hurricane was gouging.
http://www.cnn.com/2008/US/09/15/ike.gas/
As for those of you thinking it’s gouging because gas hasn’t fallen as fast as oil, the answers to that are in this thread as well. Take a few minutes and read or keep spouting the same BS that makes you look stupid.
busy gas stations depend on regular shipments in order to provide their product. When the gas cannot get on the truck and delivered, that means the station is low on product. The gas station is on a heavily travelled road that goes right through a HUGE business park. Sheetz stations also have consistently lower prices than competitors. Now, since they are basically shut-down, they are making no money. That is why the stations are trying to charge as much as possible now. They need to make their money now, because they are SOL later.
Supply, meet my friend Demand
Ya it makes sense what you said earlier about how refineries shutting down effect tanker trucks going to the actual gas stations unlike a drop in oil prices that are just an early stage of the process.
The proof that gas stations are out of gas in the country is obvious that the gas price increase was due to limited supply, not gouging.
gas sucks.
95.90 +4.75
Knew it couldn’t keep going down…
everyone is running back to commodities.
Eh, bounce back a little because demand spiked after Ike passed by
It will continue downward
truth
And the government continues to refuse to limit speculation. Yay!