Oil is down over 20 dollars a barrel, which translates into 50 cents a gallon of gas, yet gas did not fall 50?

Question

cents a gallon. why not?

Answer 1

it takes them a while to catch up.

Answer 2

in Sacramento it went above 4.50 gal--now the cheapest is 4.00----the price of a barrel of of oil is about 50 to  60% of the final price---the rest is procesing

Answer 3

The gas you buy is made from oil bought 30 to 90 days ago. Thus the price of gas is determined by the average cost of oil between 30 to 90 days ago. Price moves in the last 30 days do not show up in the retail price.

Answer 4

your way off on your translation,  and actually, gas here in MN USA is 3.69 down from 4.10 a few weeks ago.   lol

Answer 5

greed. if it goes up 42 cents  a barrel (which translates into a penny per gallon, since you get 42 gallons of gas from a barrel) the pump price is often 10-15 cents higher.