Oil falls $25 since June 10...price at the pump is only down 10 cents. WHY????

Question

Do you think the oil companies are keeping all of their profits and s******g the american people knowing that the dinosaur train will be coming to a screeching halt within 5 years?

Answer 1

Because the arabs are already increasing their lifestyle with the extra $$ and don't want to go back to being only semi-wealthy instead of extremely wealthy

Answer 2

no you have to pay the truck driver and for shipping of goods and also make a profit which is so small you have no idea and also if you think there is a conspiracy be a detective dont just sit on your *** as vault would say "GET TO IT"

Answer 3

supply and demand my friend.

and corruption.

Answer 4

which is the discount percentage?

Answer 5

price at the pump is down nearly 45 cents in Phoenix AZ since then.

i never thought i would be happy to see gas prices at $3.81/gallon.

Answer 6

They're trying to make money, it's called business. They know most people view gasoline as a necessity so they make money basically no matter what unless we just stop buying gas altogether.

Answer 7

Good question, and good theory ... but maybe.

Answer 8

Greedy oil companies and greedy governments they can certainly put the prices up quick enough

Answer 9

Well oil doesn't go from the barrel to the pump you have to include processing costs. On top of that, theres not just1 gallon in a barrel so the drop spreads out per gallons in a barrel.

Answer 10

Because oil is fungible. In addtion, those who purchase gasoline pay cash for it, and don't want to price their fuel too low and get burned the next time Iranian madman Ahmadinnerjacket breaks wind and oil prices jump twenty bucks. Look up  "asymmetric price adjustment" for more information.

Your best bet is to purchase fuel from a place like Costco, where it is purchased in bulk amounts that local gas stations (nearly all privately owned) can't match and where price increases don't react as quickly.

There's a Shell station down the street from me. On Good Friday 2005 the owner raised prices THREE times between 9:00AM and 4:00PM.

Answer 11

the price of oil barrel is for deliveries that will be made during the next bussines quarter. current pump prices reflect the prices of the previous bussiness quarter . you can add speculation as well that the price of crude may go up again

Answer 12

Greed, and no governmental safeguards to protect the consumer.

Answer 13

This is very complicated, but the short answer is that what you buying right now that is in the ground at your local station was purchased at a higher price than what is being sold in the wholesale community currently.

Of course, each retailer makes his own pricing decisions, so this is an overly simplistic answer to an overly complicated question.

Answer 14

It takes almost 6 weeks for changes to seem aparent from the price of oil.

Answer 15

Any time oil goes up a penny, gas prices go up fifty cents - anytime oil goes down (even by $25) there may just be a hiccup, it's not a trend, so gas goes up a dime...

Answer 16

Dude, the price of oil fell.  Now oil bought at that price can make it's way to refineries, get turned into gasoline and get shipped to your gas station.  Until it makes that trip you're using gasoline made from oil bought at the old, higher price.  

Do you really think oil magically transforms itself into gasoline and teleports to your local gas station the same day?  It takes time for the cheaper oil to work it's way through the system to you.