Relative to oil prices, does it seem gas prices were quicker to climb than they are to fall?

Question

Oil prices have fallen 23% over the past month, but gas prices have not matched that rate. On the flip side, when Oil prices were going up gas prices appeared to increase, percentage wise, more than oil.

Answer 1

Gas prices are always rise faster when oil goes up. They will fall as oil goes down, but more slowly.

This is largely because there is more price competition when prices rise. As prices fall, consumers aren't as concerned about saving every penny on the price, and gas stations and oil refining companies can increase their profits by lowering the price more slowly.

And gas station owners report that they make much more money as prices fall than they do when prices decline.

Answer 2

watch this video get past first few minutes then it explains why yea it might look dumb from topic or start its worth watching

http://www.youtube.com/watch?v=AhvfCFCfd...