Why are we still paying almost 4.00 a gallon for gasoline when the price per barrel has dropped 35.00 a barrel

Question

They clain the bought gas when it was at the 140.00 plus a gallon and they are using that up before they go down in price per gallon. If that's true, why do they raise it at the snap of a finger when the price goes up yet they bought the fuel they have at a lower price ber barrel? Don't you see the manipulation?

Answer 1

Because oil is a commodity. If you buy gold, and it goes up in price, would you expect to sell it at the price you paid for it, or at the current price?

Answer 2

It's an all out war between the stock market and the companies. But if people would also think about it is also a political issue also look how many people that are in the government that own oil companies and the ones that have invested in it. They won't do nothing because that in more money in their pocket.

Answer 3

I paid $3.52 for gas yesterday.  Have not seen any $4.00 gas in a few weeks.

Current national average for regular is $3.79

Answer 4

Unless you are in the middle of nowhere, where there is only 1 gas station, have you looked around?? Last night, gas wasa 3.69, 3,65 and 3.73, at 3 different stations,all within  a 1/2 mile of each other

Answer 5

most people do see it,govt. talks our money walks

Answer 6

What part of a "Futures" market can't you comprehend? Future prices in the future!

Answer 7

gas should be about $3.10-$3.20/ gallon, with the price of oil where it is.

when the oil price is rising, they are out there upping prices every day , or twice a day.  when the price of oil is falling,  they are slow to lower them.

all of the merging and buyouts of the past few years have reduced our oil companies from about 15 down to 3 american co's.  there is not enough competition.

Answer 8

Because that is what the market will bear. No company sells any product at a price below what people are willing to pay.

Answer 9

Failed policies. Where is the gas tax holiday hype now?

Answer 10

I see market cause and effect lowering the retail cost of gasoline locally by .50 a gallon; pretty close to the same percentage a barrel of oil has gone up and down over the same time period.  

Answer 11

Where i live the prices have not dropped toward the more rural areas, but i live on a touristy island.  But it has even dropped to $3.50 per gallon on the opposite end of the island.  A few miles off the island on the maidlane you can get gas for about $3.45.  There are a few gastations that are selling gas for cheaper, one as low as 3.22 per gallon.

There will always be maniuplation where supply and demand are invloved.  While it sucks that is the way it is.

Answer 12

The first answer is right.  I got that answer straight from our attorney generals office.  They are allowed to gouge us as long as we will take it.  We are getting hosed in our area by the suppliers.  They are not passing on the decrease from the oil companies.  Gas in the state north of us is 40 to 50 cents cheaper.  A tv station interviewed the main supplier and asked him why.  He refused to answer the question.  However some blame can be put on the stations too.  I have seen prices go up 3 times a day here.  There is no way they got three loads of gas in one day in this town with a population of 2,000.

Answer 13

Because the price of petrol has little to do with supply and demand and everything to do with a natural monopoly.