price of oil keeps dropping but gas is still @ $2.65 a gallon.......wtf?

Question

any tired of getting screwed?

Answer 1

Move to NJ, the price by me is $2.09. Sounds like your state is taxing the heck out of you in fuel tax. You can't blame Bush because your state is taxing the life out of you.

Answer 2

Your region is not keeping track with the rest of the country.
For pump prices:
If you use this link, you can generate a chart for the whole country (or any area) over time. Overall, gas prices dropped during the run-up to the election, went back up, and have dropped sharply again since the new Congress started.

I suspect some fears of the investigatory power of Congress may make the prices trend downward - as the Democrats have threatened to investigate even before winning control of Congress.

Answer 3

It's because it's all a game. The price of gas could be lower, but the companies get away with it, so they leave it. Last year, the big oil companies said they don't make any more money when the price of gas is higher, and then they reported record profits, so obviously it was a lie. I'm guessing they they use the logic that they make the same percentage, which enables them to say their cut stays the same no matter how high the price goes. When in fact, if oil is $50 a barrel, and they mark it up 30%, then they make $15, but if oil goes up to $100 a barrel, and they mark it up the same 30%, they make $30 profit instead of $15. They're all liars, and it's all about the money. The government won't regulate any of it, because they get so much money from these companies, they don't want to make any waves, and in the meantime, regular folks just keep getting squeezed. Of course, except for the Middle East, gas is still cheaper in America than most countries, so I guess that's something.

Answer 4

Our gas in the region of the country has dropped down to $1.99 a gallon for Exxon, Shell, Texaco. So it is a regional thing. We live on the coast at Houston. So I do not think Bush has anything to do with that. We also pay tax on our gas, so without the tax it would be $1.89. As long as people drive gas guzzlers the price will continue to stay high. It is called supply and demand.

Answer 5

Would you be in the state of Ca. The libs have figured out how to keep those prices up haven't they. They require a special blend of gas that decreases your cars efficiency by adding oxygen into the gas that is not accounted for by the mass air flow sensor in the air intakes. They claim it helps with clean air but I have my doubts. There are only 5 refineries that produce this blend so if they have a shutdown such as we did a few years ago, the cost goes up even when the rest of the countries prices are falling.
Another thing about Ca. is they think the working man should pay for the lazy so they tax the s--- out of everything.

Rick if he lives in Ca, he is telling the truth about the price.

Answer 6

Good question. The other day it was announced that oil prices per barrel were the lowest since march or May of 2005. I doubt very much that we are going to see that at the pump. And yes, I am tired of getting screwed.

Answer 7

Yes, I am tired of this price manipulation. As soon as ehtanol became a topic of conversation, prices started to drop, now that the conversation has quieted, they have stopped dropping. I live in NEPA, and regular here is 2.29. Now, the oil companies will blame the reduction of oil subsidies for price increases, while all the while posting larger profits than any other industry in the history of the earth--and they hanve sympathizers! The same people who are in favor of subsidizing hugely profitable companies to the tune of several billion dollars are the same ones who oppose $205. monthly payments to individual welfare recipients. Utterly absurd!

Answer 8

Refining gas still costs money.
But i'm sure closing refineries to artificially increase demand is working it in

Not to mention OPEC will soon be screwing the rest of the world by cutting production because of the Oil pricing "crisis". And having to wipe with fifties instead of hundreds.

Answer 9

Obviously the Oil Mafia are fraudsters. But the good news is it's over! Cold Fusion has no successfully been confirmed and it will be cheaply installed in every car and every house in a time shorter than you can imagine! Check out the E-cat!.

Answer 10

Regular is down to $1.99 in Oklahoma right now. And if high gasoline prices are Bush's fault, as some people allege, why did he let prices get high before and during the last election when it was almost guaranteed to hurt him and his party? And why would he let the price fall now when it will make the party in power look good?

Answer 11

The price of gas, has less to do with the price of oil, as it does with the margin that refiners of that oil wish to keep.
increasing the supply of gasoline, into the market simply is not economically beneficial to refineries, as it decreases the net profit per unit.

the price of oil has less to do with supply, as it does with speculation of its value on the markets as a result of news of bad situations occuring on the ground above it.

in states where they didn't do much about the price gouging before, don't expect the price of gas to drop to quickly.

in my area in central illinois, regular is 2.11, and premium is 2.09. now how does that occur if the higher ethanol blend(premium) has a higher productiion cost because of the ethanol?