How come when oil goes to $100 a barrel prices at the pump go up but it dropped to $90 there was no change?

Question

It's funny how the climate,the rise of oil prices,the murder of foreign diplomats,etc. can raise oil prices yet it recently dropped $10 a barrel there was no change at the pump?What a scam!!!

Answer 1

haha

i have noo problem with the oil price where i live

20 dollars a barrel, good enough :]

Answer 2

the gas stations have big tanks under the ground. They only get so much mark up due to fierce competition. (They make their reall money when you come in and buy that soda and chips.) So if you are paying $3.30, you can bet the gas station owner paid at least $3 a gallon for it when he had that big tank filled. The gas station owner or the corparation running the gas stations, determines the price. For the most part, the signs you see such as Shell, Citgo, etc are not the owners, the real owner pays for that sign so he can attract customers with the name recognition.

It's basically a game they have to play, They have to charge enough to cover the cost of what's all ready in the tank, and charge enough to cover the cost of what it's going to cost to fill that tank tommorow (which is why it always goes up faster than down), while at the same time keeping it low enough to not lose customers to the guy across the street.

Answer 3

i do no longer see the industry allowing the fee to drop till Jan. The industry is controlled by utilising the populations self belief interior the economic equipment. suitable now there is instability because of the reality its an election 3 hundred and sixty 5 days and no one is acquainted with what direction we are able to be moving into for the subsequent 4 years. reckoning on who gets elected will play a extensive section contained obtainable correcting itself. finally it is going to all come right down to grant and insist. If we don't call for it then there'll be a surplus and then they are going to ought to sell it and the fee will drop. basic economics quite. as long as we keep utilising and not utilising public trans and carpool then the fee will stay wakeful. The industry has a manner of self correcting itself given adequate time. somebody made a fact approximately tech shares and how they have been interior the direction of the roof yet now they are incredibly low-fee, the bubble did no longer burst the industry purely corrected itself. provide this a while and it will spectacular itself yet interior the propose time end dropping it. inspect some option gasoline factors, no longer something incorrect with being a grimy hippie for some months.

Answer 4

The price at the pump is always 3 months behind current events. Use it to your advantage. When you see the a spike in the price of oil has taken place, realize that 3 months from now gas will go up. Same is true for a drop in oil prices.

Answer 5

capitalistic greed people who has cash make the cash . corporate greed sucking your tiny wages .everything you ever read learned or throught you knew was a hussell

go out and buy all kinds of junk this Christmas and let these cronies know you"re really stupid Make sure you go to the polls and elect oil company cronies to decide to give you a break at the pumps'.oil should be at 60 dollars with out wall street investers driving it past 100 dollars when it dropped 15 dollars they all pulled out dropping to 67 now . soon it will rise up and they will ride it back to 100 then pull out again and ride it back up.

Answer 6

Investigate the excessive profits and the compensation of the senior executives at the worlds largest oil companies and you will have your answer...



As far as losing customers across the street....in my area the price for gas is the same at every gas station in the city...and they all change their prices to the same price on the same day...but when I drive 15 miles to the next city, a gas station owned by the same person who owns one in my city will be a dime a gallon less....Price fixing is more like it.

Answer 7

I've noticed that too. They say it takes a while for the price to change, but I don't buy it. The oil companies are enjoying their largest profits to date. Imagine that.

Also look at how interest rates rose for borrowing money, but the interest being paid out to those who save rarely changed at all. That's economics for you. The rich get rich, the poor get poorer, and the middle class disappears.

Answer 8

Cause no one can really do anything about it. You should start a movement. There ya go, that's your calling in life, lower the gas prices. Better get started. We're all waiting on you now.

Answer 9

Tinman12, yes you are right, it does take three months for prices to recover, however, when the price goes up, the rise is immediate!

Answer 10

lol yep its called greed,you know like the price change because they make a lot of change cha ching! even if they buy it cheaper then price goes up in a few days so they can charge more,what a rip off of our hard earned money.

soon we will not be able to go to work ,we will be working just to buy gas.thanks to our government.

deb

Answer 11

It went down about 10 cents where I live.

Answer 12

Supply and demand ... NOW, the "big three" (US, Europe and the UK) have competition with China and India for refined oil.

Answer 13

dont worry it will go down, but the man has to make his money off us

Answer 14

It's called "greed"........