Oil prices have dropped $8 in two days, why isn't gas dropping significantly as well?

Question

Keep in mind that any significant increase is met almost instantly with a drastic rise in gas prices.

Answer 1

sometimes there is a time lag between price of good x and price of good y, even though they are complements.

time lags could be because of long-term contracts for gas supply, gas production, etc

Answer 2

It has here, from 4.19 to 3.96

Answer 3

as far as i am concerned the whole gas thing is a conspiracy and a massive lag on our society.

Answer 4

because our country is in debt

Answer 5

Just as it takes time for prices to rise when oil prices rise, the same is true when prices go down. What you should see is gas prices stabilize this week and not increase. If the price of oil continues its downward tred the price will adjust over the next month in proportion to the drop in oil prices. An $8 difference is only going to mean pennies in savings at the pump.