Why aren't we paying the same price today for gas as we were in April?

Question

The Price of Oil on April 18th was $115. a barrel the same as it is today, But the average price of Gas is $3.81 a Gallon, ( wish I could find that, its $3.93 on Long Island) The Avg Price of Gas on April18th was Just over $3.50 a gallon. Why are we paying 31 cents more, Why is the Dept. of the Interior or Energy looking into this price gouging? Even as the Price of oil is coming down the Oil Companies are reaping larger and Larger Profits.

http://www.nysun.com/business/rolling-the-dice-on-oil-prices/74913/

http://www.enidnews.com/localgas/local_story_119163348.html

And yes I ride a Bicycle to work almost everyday.

Answer 1

Becuase some people beleive that were running out in the middle east.

this problem could be avoided if the envirmentalists would let us get the oil that is under the U.S.

Answer 2

Run away government spending causes a thing called inflation, which equals TAXATION.  You must also consider into the equation individual greed & corruption.

Answer 3

At the risk of sounding like I am in support of the oil companies, it isn't really their fault this time.  The word is that it is the gas stations that are slow to follow the price of crude when it drops.  So you can blame the local station where you buy your gas this time.

Answer 4

I don't know.  Trying to make sense out of a Ponzi scheme like capitalism isn't an intuitive process.

Answer 5

This is just the way the economy is.  The price in Orlando, Florida is at the moment $3.73.  And in April is was about $3.48.

Answer 6

due to demand and supply the price of gas is always higher at this time of year.

Answer 7

Simple: ExxonMobil et al are looking to continue their extraordinary profits.  Twenty-two point five billion dollars in profit during the first two quarters isn't enough for ExxonMobil . . . they want more, more, more and it will come from mostly the middle-class (part of the assault on the middle class in this country).

Answer 8

This is the way market works. If a commodity price rises, this extra cost is passed to the consumer. If the commodity price falls, the cost to consumer remains the same. That's why I believe companies are always making more and more money, despite the "international crisis" media insists to make us swallow. This is bull**** to me.