Donger on Suicide Watch: Oil Nears $100 a Barrel

[Donger]

Originally Posted by PastorMikH

Actually, when oil was $147 a barrel here, gas was $3.99

Now that Crude is under $110 a barrel, gas is still $3.65


Our prices have gone down less than a penny per gallon/dollar per barrel. When the price per barrel was going up, gas prices were jumping close to a nickel per gallon/price per barrel locally.

Oddly, oil was at the $100-$110 a barrel price at the start of 2008 and you could buy gas at just under $3 a gallon locally. Now that oil prices are coming back to that, gas is still over $3.60 a gallon locally.


The price may have come down, but not in proportion to how it went up.

That's why the relationship between local retail pricing of gasoline and crude are not linear.

Retailers can charge whatever they want.

Where are you located, BTW?