[mylife]

So why wont the price of gasoline drop?

[Praxeologue]

So why wont the price of gasoline drop?

There isn't enough light crude refining capacity, as I understand it.

[ckilmer]

There’s plenty of refining capacity. However, despite the rise in production in the USA supply and demand worldwide are pretty well balanced. According to the EIA in the USA alone—oil consumption rose for the first time by “380,000 bbl/d (2.1%) in 2013” But demand also rose elsewhere around the world.
http://www.eia.gov/forecasts/steo/report/us_oil.cfm
Now production increased by almost a million barrels a day. But the extra crude just meant that overseas oil that normally is shipped to the USA for refining,,,,—was sent elsewhere. Typically the USA will refine oil into gasoline and other products and then sell overseas what’s not sold at home. There is no ban on selling refined petroleum products abroad...just the crude.

[thackney]

So why wont the price of gasoline drop?

Because global demand for crude oil has risen with the increases in global supply.

[Busko]

Can you say EPA and Sierra Club and all the other wacko enviromentalists that lobby to cut our throats in DC.