[Fresh Wind]

Yes, I have noticed that when oil/gas prices go up, they spike instantly, and when they go down, they drift down very slowly.

I wonder why that might be?

[hardspunned]

An ill timed fart on a refinery production crew is good for ten cents a gallon. If I were an oil exec I’d set a fire on a vacant lot at a refinery once a week. Bring some media pukes to film it at a distance at keep jacking up that price.

[Tupelo]

There is an old saying, from at least the early 1970s;
“Gas prices rise like a balloon and come down like a feather.”

[BobL]

“Yes, I have noticed that when oil/gas prices go up, they spike instantly, and when they go down, they drift down very slowly.

I wonder why that might be?”

Speculators.

[Sequoyah101]

Just like most things financial at least, elevator down and long stairway up.

Both events are fear and greed driven.