Who will investigate the prices of gas at the pump?

Question

With everybody focused on the election it seems we have forgotten about the gas prices issue. As much as the price going below the $4.00 mark makes it easier on us all no one seems to explain the following nor do anything about it.

on March 12th 2008 oil price reached $110.20. Price at the pump then was an average of $3.23 a gallon.

http://en.wikipedia.org/wiki/Oil_price_increases_of_2004-2006

http://www.wkrg.com/consumer/article/pain_at_the_pump_gas_prices_hit_new_record/11315/

So why now with oil prices dropping to similar numbers, $115.00 today are we still paying and average of $3.85 a gallon?

That is about 60 cent more a gallon for approximately the same price of crude oil.

Answer 1

Someone should investigate Nancy Pelosi for walking away from an up or down vote on drilling for oil. The republicans in the house are doing the right thing, while Stupid Pelosi closes the doors and goes on a 5 week vacation.

Answer 2

It's strange, yes, but there are explanations. Changes in refining both here and abroad affect the price, demand now versus then, and a host of other factors can shift the numbers around. Keep in mind that when you paid a dollar a gallon, oil was at $20 a barrel or so. At that rate, gas should cost about six bucks right now.

EDIT: Captain Bear, saying that one person is to blame for a global crisis is like saying that eating a single Milk Dud will cause you to become supermorbidly obese.

Answer 3

It's called a free market economy.  Here's a real shocker for you...Gas stations can charge WHATEVER THEY WANT!!

Gas stations are a BUSINESS!

What should they be investigated for?  Trying to make a profit?

What's next?  Should we investigate Porsche because they charge more that the average person can afford for a car?

Think harder next time.

Answer 4

Democrats are your only hope as they simply aren't part of the oil cartel as BushCo and most rich Republicans are.

Answer 5

Thats why we elected democrats in congress to check up on whats going on.   Nothing much apparently.

Answer 6

Bush.

Answer 7

Gas companies buy their oil in advance, so when the price of oil drops you won't see the change is price for about a month (this is what i hear from 'experts' so that could be completely wrong)

If the price of oil is consistently low, you will see the prices get lower.