Monday, October 20, 2008

Why Isn't Anyone Talking About This?

While it’s great that we’ve been seeing reduced numbers at the pumps these days, it’s troubling that gas prices are not being reduced at the same plummeting rate as crude oil per barrel. After all, when oil prices were rising this summer, gas prices rose steadily and accordingly.

The price of crude oil per gallon is down over 50% since July...

but the price of gas has gone from a national average of $4.11 per gallon on July 17th to a still-too-high price of $3.04. This is only a 26% decrease in price.

Someone is making money here, and it sure isn’t us.


bratney said...

I'm so glad that someone else finally noticed is an outrage! The average American is constantly being taken advantage of by "big oil". Let's all ride bikes, walk more, and take back control of our economic lives.

Anonymous said...

This is for many reasons. The biggest reason is that they can get away with it. The public is looking at the horrific economy and is seeing all of their grocery bills go up, bracing themselves for their heating bills and they finally see their gas bill go down. Most peopel don't look at the prices for oil barrels, just the prices at the gas pumps!

columbus said...

Finally we are seeing the price of gas come down but we are still getting screwed by big oil. Wholesale gas is less than $1.30...why are we still paying over $2.20??
At the same time I hope people don't get lulled to sleep by this short term drop in price and start driving more and buying suv's and all of that.