Oil Price and gas price?

BERT · #1 (**permalink**) 07-17-2008, 02:31 PM

Up a dollar a barrel, gas goes up a cent or two. Down $10 a barrel the price of gas doesn't change. How does that work?

nevermind65 · #2 (**permalink**) 07-17-2008, 03:13 PM

We always get the old story...."it takes 6 weeks for it to hit the pump". Funny, it took a total of 15 minutes for them to raise the prices.

Ron61 · #3 (**permalink**) 07-17-2008, 03:21 PM

They know the price of oil is just going to increase again so no need to bother to lower gas a couple of cents. I got gas yesterday and our cheapest here was $4.59 a gallon. I don't even look any more as I have to have it anyway. Thankfully I don't have to drive very much any more and that really helps.

Ron

427 S/O · #4 (**permalink**) 07-17-2008, 03:53 PM

I've often thought about that and wondered if somebody, somewhere was monitoring that?.

round_midnight · #5 (**permalink**) 07-17-2008, 04:22 PM

It's simplet economics: wheat goes up, bread goes up. Wheat goes down, bread stays up.

GlynMeek · #6 (**permalink**) 07-17-2008, 09:58 PM

Quote:

Originally Posted by BERT

Up a dollar a barrel, gas goes up a cent or two. Down $10 a barrel the price of gas doesn't change. How does that work?

Works wonderfully well if you are running an oil company!!!!!!!!!!!

4RE KLR · #7 (**permalink**) 07-19-2008, 09:17 AM

Well they think we are stupid, and do not realize this.

Smokingcobra2 · #8 (**permalink**) 07-20-2008, 02:40 PM

I once asked the Attorney General of Ct that same question and he said he would look into it-- never heard back from him.
But i would love to know the answer.
joeg