Will Gas go down now that oil prices dropped?

United States
May 5, 2011 10:05pm CST
So oil prices have dropped today dramatically! Now the question is will the cost of gas actually go down? They are saying it might go down 20 cents! Personally I think it will not prove to be the drop it should be And the oil and gas companies will be feasting on our wallets.
1 person likes this
11 responses
• United States
7 May 11
I am not so sure it's "feasting gas companies in our wallets" as apposed to lack of American refineries that turn the raw oil into the gasoline we burn in our cars. It is causing a bottle neck in the gas supply chain, causing a raise in prices we don't see, so we blame the gas companies who we can see quite clearly with high prices on their boards. ~ Solving this problem isn't easy as a refinery isn't good for the environment, and building one in the United States would not prove profitable for whichever slob or even oil company who tries when they come up against the Greens.
• United States
7 May 11
I am sorry but have you been to NJ? I grew up seeing the disgusting mess the refineries leave behind. I know what they can achieve and I know that we do in fact have them here in our country. I also know that our government stock piles and controls the amount of fuel distributed but does not have as tight of a hold, conveniently, on the prices charged. Just a we have our own oil and yet our government insists on our people buying from other nations while hoarding our own. We may be thankful one day when the oil wells dry up but right now letting loose a few barrels wouldn't hurt any one.
• United States
7 May 11
I personally think that we need to diversify the energy supply from just the energy intensive oil. It is vulnerable to nasty shocks when the oil producers get their noses in a snit, supply chain cat fights, and America does not produce enough to keep all of her cars on the road. This problem is not just being sat on, the pressure is most definitely on. There are brains hard at work networking a solution. ~ Corn fuel is not the answer, fueling cars on food is frankly a poor idea. Switch grass is perhaps better, oil producing bacteria is perhaps ideal. ~ While nuclear is not getting good press at the moment, I think that it has better possibilities than coal, natural gas, or oil. Yes, Japan's reactors are having a bad . It took a thirty foot tsunami and a 9.0 earth quake to do it, and those reactors were about the only things standing in the area. ~ Mine is not the popular opinion. The Japanese reactors have proven as safe as houses. Sadly, we must make the "safer" as apposed to "100% secure" if we want the life we lead now as apposed to living like those folk from the middle ages who lived by light of a single candle and lived to age thirty if lucky.
@celticeagle (118551)
• Boise, Idaho
6 May 11
You'd think with oil prices dropping gas prices would too but I doubt it. This time of year the prices are high regardless. Feasting on our wallets? Sounds about right! They will keep it up for the most part and make big bucks. What would be different now than any other Summer?
• United States
6 May 11
The report I saw said it will be a week or two until we see a drop in price and it could be up to a 20 cent decrease in some places oooh 20 cents after it almost doubling in six months!
1 person likes this
@celticeagle (118551)
• Boise, Idaho
7 May 11
Hope that happens here as well. I try not to watch too much of that stuff. Gets too depressing most of the time.
@vandana7 (66023)
• India
6 May 11
Really? I mean oil prices have gone down? Wow!!! Gotta check that..it would be a good news for us as well. :) And the world. And all the currencies I suppose. Is it the Osama Bin Laden effect?
@coffeebreak (17820)
• United States
6 May 11
Reported last night on Fox News...down to $100 a barrel from $114. But it won't go down at the pumps...has nothing to do with Bin Laden....summer/travel/vacation time is here. every year gas goes up this time of year regardless of what else is going on in the world. Supply and demand! THey know people travel and need more gas in the summer time..so they raise the prices, then lower a few cents come september when everyone has settled back down cuase of school starting. Only this time...is could drop, but it won't becasue they don't know that they will have a believable excuse to tell the country why they are increasing it back up in 30 days!
@Shawchert (1040)
• United States
6 May 11
I agree with you here, but You know what? I laugh in their faces, point at my feet and say, this be my transportation. I use public transportation, carpools, and nothing more!!!! It saves on gas, and gets them all poed and makes them drop the prices because no american wants to afford 4 dollars on gas until... well we can afford it!!!
• United States
6 May 11
I would use more if we had it here in the middle of no where! We are rural and there is no public transportation at all. We would walk more places but as the only thing within five miles is a gas station (har har) that is difficult too. I have cut all my driving down to just a few day trips here and there though. I have a flex fuel vehicle which I bought in hopes of using corn fuel but as there are still none of the proposed ethanol stations within a hundred miles of here I am unable to use this I have filled up or topped off when ever I have seen one as I can mix the fuel even in my car.
@bobmnu (8160)
• United States
7 May 11
I have no problem with public transportation except that my gas tax is paying for it. Has your fare gone up if not who is paying for the increased fuel costs. I live in rural America and must drive to work, the store and other places. It is said the up to 75% or the cost of public transportation is covered by the gas tax. Would you sent me $3.25 (75% fo the tax on gas) for each tank of gas I have to buy to support your public transportation.
@bobmnu (8160)
• United States
7 May 11
At least in my community the price of gas dropped for $4.099 to $4.079, not much but every little bit helps.
• United States
9 May 11
Wow, I paid $3.79/gallon yesterday. I'll stop complaining. Yes, every little bit helps.
@sender621 (14956)
• United States
6 May 11
I certainly hope that the price of gasoline can finally make a decline. Since oil prices have doe the same, it's time for gas to folloe its lead. I am sure this would make so many of us more appreciative and happy in this economy.
• United States
7 May 11
I know it would like my life easier
@dawnald (84146)
• Shingle Springs, California
6 May 11
I'm sure it will not be a 1 to 1 correlation, gas prices will no doubt go down more slowly than oil...
• United States
7 May 11
and yet they can rise as fast...
@jillhill (37383)
• United States
6 May 11
They say it will and that $3.50 will look good pretty soon....$2.50 would look good to me and that's about where it should be...we are getting socked! Big time while the oil companies have record profits!
• United States
6 May 11
Only $3.50 huh.... I would love to see it back to where it was in September of 2010 which is a whole dollar fifty cheaper (here anyway) then it is now. . I cannot believe it has gone up this way with no government intervention to stop big business. Not in bed with the Oil companies sure your not Obama as he says :get used to it" or is it the car companies he's in with " get more fuel efficient cars" he says like we can afford it! All politicians are the same they pander to those who line the pockets either one way or another.
@coffeebreak (17820)
• United States
6 May 11
They always feast on our wallets, cause the government won't allow us to drill in our own country for our own gas. THey make us dependent on foreign oil then complain how dependent we are on it! IF we drill here...we won't need theirs and the price can go down....cause we are taking from our own underground, hiring and employing tons of our own workers to get it to the pumps, which puts money in peoples pockets, giving them money to spend and put back into the economy, thereby dropping not only the unemployment rate, but the price of gas...meaning more money to spend on other things besides gas in the tank, which means the economy drastically improves! But we can't have that, now can we! Of course the price at the pumps won't go down....summer/vacation/traveling time is coming up! Can't drop it now and raise it in 30 days..they won't have a good excuse for raising it so they'll just keep it high now, and any drop will come end of summer...to get people to do that one last trip before school starts so they will get that one last boost of profit before it all calms down before the holidays! They got us by the throat. It has only gone down from the $114 a barrel to $100 a barrel due to people not buying as much as they can't afford $4 or more a gallon. So they don't buy as much, so the demand drops, so the price per barrel drops. THing is...all that really matters is the price at the pump. That will determine how much the oil companies will make. Gas could be at $50 a barrel, but if they keep the pump price at $4...they'll get it as we have to have gas. Gas fuels this country.
• United States
6 May 11
What we need is laws prohibit gas pump rape. The companies force us to buy gas at absurd prices while making bigger profits then ever and our Government who "isn't" in bed with the oil companies this administration( unlike last time right) tells us we "have to get used to it buy a more fuel economic car like we can afford them.
• United States
9 May 11
I don't see gas prices here in the Western U.S. going down at all. I know with summer coming and the vacation season around the corner that just like last year, they will maintain the same hype. They like to say relief is on its way but I don't believe it and would love to be surprised. Please surprise me. Remember the days of $1.20 per gallon, WOW. Don't think we will ever see those again. Shame.
@sedel1027 (17855)
• United States
6 May 11
Prices usually do, but it takes a while - often a few weeks just because of how companies buy oil and how long it takes to disburse the refined gas.