Because that gas was refined with $70/bbl oil. We won't feel this for a month or more.
If that's the case why did gas, that was refined from $30.00 per bbl, jump to $3.50+ per gallon before Katrina even made landfall? Gas prices are whatever the Stations/oil companies think they can get away with charging us.
Wait a minute! On the upside of the crude climb, gasoline that was refined at the crude price of $40/bbl immediately shot to the new $70/bbl level? Replacement costs were blamed for the rise in gasoline prices? Now on the down side the old crude price is embraced and screw the new? This is price manipulation, pure and simple. And the feds ought to be looking into it....
why do price reductions always take months to show up at the pump, but increases in oil barrel prices send GAS (already refined, and at the pump) up immediately?
just askin'
Ok. And the price shoots up immediately when the barrel price increases. Is there a little blue pill theory associated with the rapid rise and the protracted decline?
This is hard for me to understand.
Gas is selling in the range of $1.80 to $1.89 per gallon in the Detroit area right now.
That dosen't stop them from raising it a day after the market closes higher.
We sure don't have to wait a month for the increases when oil prices are going up.
Funny how they jack it up each day as it keeps rising. Why doesn't it come down just as quickly?