Do you remember when $1.10/gal was not profitable for the investors and Big Oil?

Question

WELL, THAT'S WHY YOU'LL NEVER SEE THAT PRICE AGAIN.

Answer 1

At $60 per barrel that is $1.50 per gallon. Add transportation half way around the world, refining, transportation to your conveniently located station, and a reasonable profit along the way. Oh yeah, and then add the federal state and local taxes.

I remember 27 cents a gallon but the taxes are multiples of that now. The only question that matters is if there is price manipulation. That I believe there is when it takes forever for a price decrease to filter through but the upticks are instantaneous.

Answer 2

I remember 10 cents a gallon. Wait, that was actually 10.9 cents. Big oil has very little to do with the price of gas. This is a commodity, traded on the commodities market, like gold and silver. Most of the cost of a gallon of gas goes to the government in taxes.

Answer 3

Actually Gasoline will go down to $0.99 in the future.

For more information about that check "Chain Reaction" starring Keanu Reeves (It was fictional at the time but now it's real)

Answer 4

Remember?...hell, that time is NOW.
7 years ago, it actually WAS profitable!