Oil Price Going Down  |
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Ok so the stock market price of oil has gone down but I dont see the gas price at the pump going down. How come when the oil price goes up it seem the very same day the gas price goes up. But when the oil price goes down I dont see any hurry with them lowering the price at the pump. What gives?
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1. Amanda81587 (595) | 1 month ago | I don't know but all I do know is that I will be walking soon lol.
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Altair4 (164) | 1 month ago | I hope more then that! I sure wish I could afford a scooter, 100mpg.
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3. Zmugzy (516) | 1 month ago | The daily price at the pump bares no relation to the daily price of oil on the stock markets. Rises in the international trading price of oil take a while to feed through to the local gas station. It is true though that price rises occur more quickly than decreases in price.
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4. mscott (899) | 1 month ago | That is a great question. I have often thought the exact same thing. By law they can only change the price one time every 24 hours. Don't know who enforces this law but that is the way it is suppose to be. I figure they jack the price to make more money quickly but don't bother lowering it until all the competition does. Once they get you use to a price they figure they can keep it there. It has literally gone down over 15 bucks a barrel yet the price at the pump hasn't changed a cent.
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5. Aurone (1607) | 1 month ago | Where I live, the price of gas has gone down. Just a little, but hey I'll take what I can get when gas is $4.69.
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6. snowy22315 (4323) | 1 month ago | Figures just when I bought some oil stock, but I'll be happy to see the change at the pump. I live in a rural area and can hardly afford to go anwyhere with the price of gas being so astronomically high. I've spent like 45.00 on gas in the past three days and my car is actually good on gas. I'd hate to see what would happen if I had a gas guzzler.
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