Why isnt the price of gas lower?

Question

Crude oil is 1/2 what it was at its highest and the price of gas is still way up. Think exxon is playing games like...lets see if we can break another record?

Answer 1

IT is interesting that when the price for a barrel drops, it takes a couple of weeks for it to follow at the pumps.  But when the price does up, it is almost instantaneous!

Answer 2

Let's see it was $4.03 last week and $3.89 this week.. it did go lower.

Answer 3

Because the ultra liberals Obama, Pelosi & Reid want Americans to suffer by not wanting to pass any energy bills.

Answer 4

It's because that fossil fuels for gas is running out. So, gas is harder to find which means the cost goes higher.

Answer 5

the use of natural resources every time tends to finish as time goes by. the world has realise great need of what it ha and tends to use it. the prices will never go down. my friend instead the world will have to understand the state in which it is

Answer 6

It isn't lower because the oil companies can still get a higher price at the pump. As long as they can give us any lame excuse (or none at all) and keep the price high, they will.

Since VP Cheney formulated our energy policy behind closed doors with guidance from the very oil companies that are gouging us at the pump now, you would have to ask him this question. Don't hold your breath waiting for an answer.

They just hope that the "supply and demand" cover story holds up until they've squeezed every last penny they can out of the consumer. They're laughing all the way to the bank.  

Answer 7

I'm not sure what prices you are paying but where I'm from, gas was over $4/gallon and is now in the $3.60's/gallon. I think it will go down a little more, but that is quite a drop already and about the best it will get unless the supply goes up. Prices don't just drop if demand is still high and the useable supply is limited. We have the crude oil, and cheaper too, the problem is the limited number of refineries. However, with the drill here, drill now plan, it would include the construction of numerous refineries which would not only help our oil situation, it would create jobs.

Answer 8

It has lowered where I'm at to $3.76 a gallon. But you know what's real strang and I thought it was just me until a co-worker said this was happening to him.  I always put just $10 of gas in my car and that usually last about 3 days.  But the funny thing is when the gas was $4 I was getting a quarter tank of gas.Now that it's $3.76 I'm still just getting a quarter tank.  And it seems like I got more miles out of it when it was $4 a gallon. Doesn't make much sense.

Answer 9

According to Saudi Arabia's oil minister (who currently holds the largest supply of oil in the world), there is not a problem with the supply of oil. The companies refining the oil into gas are only letting out a limited supply. In addition to this, if the gas prices are lowered by any large amount at this point in time, it will cause the entire world economy to collapse. I have no problem with the gas prices knowing that the fate of the entire world resides on these oil companies that know what they're doing. The prices have lowered slightly over the pass few weeks. I would just be happy with that at the moment considering the prices will probably go up again.