So....hasn't the price for a barrel of oil gone down alot???

Question

I heard crude oil was down yesterday and the day before that...when will that effect the price at the pump, or will it? It has been 3.99 a gallon here for about 3 weeks or so.

Answer 1

The price of gasoline lags the price of oil by at least a month.  Expect if oil steadies or drops more, we'll see 10's of cents drop over the next couple months.  Of course, oil is in a viscious cycle right now so anything's possible.

Answer 2

If it stays down it will take several weeks.

Answer 3

It'll take several days for it to come down a few pennies per gallon. I gave all that up and bought cars that run on natural gas (methane). I pay 85 cents per gallon!

Answer 4

The price of gas has gone down about $0.10 to $0.20 a gallon here in California. Hopefully you'll see a drop in prices.

Answer 5

Regular unleaded has gone down by 20 cents, but still at $4.49.