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  • Drivers Outraged as Gas Prices Soar While Oil Prices Plummet

    08/14/2015 9:28:43 AM PDT · by Citizen Zed · 52 replies
    Time.com/money ^ | 8-14-2015 | Brad Tuttle
    Prices at some gas stations spiked 50¢ overnight. Earlier this week, analysts proclaimed that $2 gas would be common once again around the U.S. Global oil prices are cratering, nearing $40 per barrel, and shrinking wholesale rates can only result in lower prices at the pump. Or so one would think. Despite plunging oil prices, drivers throughout the Midwest have been subjected to dramatic price spikes at gas stations this week. In Cincinnati, for instance, the price for a gallon of regular increased more than 40¢ overnight at some stations. Less than two weeks after analysts predicted average prices in...