The last news report I saw said oil had dropped about 15%, but gasoline prices had fallen only about 3%. Why? Well, it depends on which liar you're listening to.
Some stations may get new shipments of gas each day, but EVERY station changes their price in unison with the highest price. There was never a reason for the price of oil that we've seen. There's never been an reason for the price of gasoline to jump like it has. But how stupid of us to think that gasoline prices should come down along with oil prices. :roll: Now that it looks like Dems are going to really be in control of Congress and, possibly, the White House, magically oil prices are dropping. Will gas prices be below $3 by the election? I wouldn't be surprised. And I won't be satisfied until it's less than $2 a gallon. Take time to estimate how much money it cost you to put GW back in the White House the last four years.
The price of oil dropped to $128 on Friday. Over the week it has dropped about 11 percent. When oil prices go up the result is an instant increase at the pump. So why aren't we seeing an instanteous drop when oil prices go down?
The price of crude oil is directly related to the price of gas. And crude oil prices made the biggest four-day decline in more than three years. With that in mind drivers hope to see some significant changes when they pull up to the pump.
"Well you expect gas prices to go down but you haven't seen that," C.E. Ballard.
The average cost per gallon of gas here in Arkansas actually did go down one cent from Thursday but customers say with prices averaging nearly $4.00 a gallon this is hardly noticeable. "They're just out of hand," says D.G. New.
And customers want to know why. Gas station managers and local suppliers say they understand why customers would think prices at the pump would drop as crude oil prices drop but it isn't that simple. They buy gas in bulk at a certain price then set prices at the pump accordingly. So they're going to continue to sell it that price until the tanks are empty. If they buy the next supply cheaper, then you get it cheaper.
"I don't buy it but I'm buying the gas but I don't by what they're saying," says New.
Larry Brown is still on the fence about it. "Maybe I might believe that, I don't know."
Whatever the case customers say the government needs to put an end to rising prices because its draining their budgets. So it looks like until the price of gas goes down and stays for a while you'll see a lot more of this, folks pulling up to the pump and pumping only a few dollars.
"If it's too high yeah i'll just put a few gallons in and go to the next store where its cheaper," says Brown.
People are also wondering why gas prices go up and down from day to day. Well many gas stations get new shipments of gas each day which prompts the change in prices.
http://www.fox16.com/news/local/story.aspx?content_id=cb00ca48-3258-4990-a487-51a8ea258a8b&rss=315
Some stations may get new shipments of gas each day, but EVERY station changes their price in unison with the highest price. There was never a reason for the price of oil that we've seen. There's never been an reason for the price of gasoline to jump like it has. But how stupid of us to think that gasoline prices should come down along with oil prices. :roll: Now that it looks like Dems are going to really be in control of Congress and, possibly, the White House, magically oil prices are dropping. Will gas prices be below $3 by the election? I wouldn't be surprised. And I won't be satisfied until it's less than $2 a gallon. Take time to estimate how much money it cost you to put GW back in the White House the last four years.