It isn't always a perfect match in a given area every week. Notice that Ohio's prices fell faster than the national average. Also, neither climbed as fast as oil so it won't fall as fast either.
The interesting thing I’ve seen here in Ohio is that as the price per barrel has continued to drop, the actual price at the pump has crept back up about 8 cents a gallon. Might be strictly anecdotal, but I get the feeling the retailers don’t want us to get back under $3.50 a gallon.
The retailers have no choice but to follow the true market prices. Gas will go down. It just always goes down WAY slower than it goes up. They are all reluctant to lower prices and only do so kicking and screaming. But then somebody else in the food chain realizes that if they undercut their competitors a bit, they will steal business and increase profits. They only get away with this for a brief while, because competitors soon know they are undercut and respond in kind.
Eventually, gas finds its market price. It will go back down.
It isn't always a perfect match in a given area every week. Notice that Ohio's prices fell faster than the national average. Also, neither climbed as fast as oil so it won't fall as fast either.