If the price of oil has remained relatively steady, why does the price of gasoline still keep going up?

Question

If the price of oil has remained relatively steady, why does the price of gasoline still keep going up?

Answer 1

the price of oil is "forward looking".  In other words, if the price of oil goes up today and then stays steady, it will be reflected in the price of gas approx 6mths from now.  

That and the gas stations are owned by crooks.

Answer 2

a question like that makes one wonder where you've been these past few months.  

oil has gone up; gasoline is made from oil, so gas has gone up with accordingly.

but the largest part of the increases is that our Dollar is going down down down.

Answer 3

Oil is unrefined, you can't use it as gas. There are different kinds of oil the most famous being 'light sweet' crude which has less sulfur in it making it easier to refine. Gasoline is refined, its the finish product that you put in your car.

The commodities market trades oil and gas separately, because they are two different products. One company might just need oil for industrial reasons, and another company needs gasoline so they trade at different prices and sometimes they don't even go in the same direction that day. All commodities are traded in the open market, that includes corn, milk, cheese and oil. Lets say you are a ice cream shop that needs milk, you need to bid for that raw material, but so does that guy that makes cheese. But you don't care about the price of cheese, you only care about the price of milk. You as a consumer is always willing to pay a bit more for cheese and ice cream then you will for milk, same idea with gas.

Answer 4

They blame supply and demand. However, in March Americans used 15 billion gallons less of gasoline compared to last March. They say if they lower the prices people we begin using more gas again. Oil continues to rise now because of speculations. The news and all these speculatos need to drop the issue and stop speculating. If they keep saying that gas will get up to 10 dollars a gallon, when it hits 8 dollars a gallon and stops, we will be relieved to not have gotten 10 dollars a gallon. That is how they work. Think about it, they said we would be up to 5 dollars a gallon by Memorial Day, but no we were only $4 a gallon, Americans were just relieved it was less. It is time for Americans to start really taking action...remember our government cant control the oil crisis(they can help by drilling for more oil) but they can not force the prices down, we need to start boycotting. If everyone boycotted exxon and sunoco then they would be forced to lower their prices, then everyone can start going to exxon and sunoco, then the other gas stations will have to lower theirs..play a price game. But that means Americans would have to be united.

Answer 5

I don't know but I don't know if it's just me or my gas does not last these days like it used to.  I've drived different cars lately, and I noticed that the gas just doesn't last so I end up having to spend more $ on gas than what I used to.  What's up with that??