Gasoline Prices

United States
October 17, 2008 12:48pm CST
I just paid $2.69 per gallon for gasoline. That is a significant drop, thirty cents in the past week. But the cost of crude has dropped much more significantly. Is it any shock that the oil companies are slower in lowering prices at the pump than they were in raising them?
2 responses
@catdla1 (6005)
• United States
17 Oct 08
I agree with you. It seems like as soon as there's a rumor that prices will increase - they do. Overnight! When news comes that prices of crude has gone down, it seems to take a week to reflect. Nobody can tell me that there is no gouging going on.
• United States
17 Oct 08
It is a bit irritating, is it not?
@catdla1 (6005)
• United States
18 Oct 08
It's immoral! There are too many people suffering thru making the decision of buying gas to get to work, and buying food for their families. I wish each of the 'oil barons' had to live for a month in the shoes of the people they are hurting.
@sedel1027 (17854)
• United States
17 Oct 08
You have to remember that the stations control what they charge, not the oil companies. For example, two weeks ago an article ran in the paper about "cheap" gas. About 40 miles from here someone was selling gas for $2.85/gallon and they were quoted to be buying at "$2.46 - $2.69" a gallon whole sale.
1 person likes this
• United States
17 Oct 08
I knew that the stations had some leeway, that is evident from the variety of prices in a given area. But the wholesale prices to the stations are set by the refiners, true?