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.