GREAT!
I wonder if we will see prices drop at the pump??
Yes. But it will take months.
I was reading somewhere that a $1 drop in the price of a barrel of crude would translate out to a little over a 2 cent drop in a gallon of refined gasoline..... at 42 gallons of gasoline per barrel.
Based on that any drop will not be dramatic unless winter goes away very quickly....
We saw a 10 cent/gallon drop in N California during the Thanksgiving Weekend which was amazing.
Over the last six months I have consistently seen stations pop up prices right away when the media announces per-barrel cost hikes. No matter that the gas they are pumping is from lower cost oil. Now crude prices are dropping but the gas stays at ~$2 per gallon. Other than oil companies ripping-off the consumer can anyone explain it?
Over the last six months I have consistently seen stations pop up prices right away when the media announces per-barrel cost hikes. No matter that the gas they are pumping is from lower cost oil. Now crude prices are dropping but the gas stays at ~$2 per gallon. Other than oil companies ripping-off the consumer can anyone explain it?