So how come gas prices are so high?
It's below $1.15/gal here in AL.
They're a buck seventy-nine in central Delaware. That's less in real terms than I paid in 1969.
Don't forget, no matter how low the price of oil gets, gasoline still costs money for refining and transportation, not to mention the profit on selling it.
So how come gas prices are so high?
I dont know why but gas prices always jump immediately to reflect rising prices in oil and then go down very slowly over weeks as retailers must be fighting to keep profits as high as possible.
“...So how come gas prices are so high?...”
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They ain’t.
Because gas is already processed, barrels of oil are the raw material. Gas prices reflect the price after refining the oil already taken from the ground months ago
Blue states tend to slap tax after tax on gas. So even if the price of gasoline drops to near zero, it will still be around $2 a gallon in blue states like Connecticut, New York, New Jersey...