Oil prices are going down, but gas is going up...WTF???

[supercharged]

Was filling up my Acura today, $4.55 a gallon, for premium at local Chevron (I only fill up at Chevron)... $78.01 for 17.1 gallons, not even a full tank...I checked crude oil price - and it's going down, but gas prices are still going up...WTF??? Sounds like the white house really get brided by the oil companies...And I don't wanna hear those excuses, fires, and other bs...
very mad about it...

[Gemini13]

CHINA STARTS OIL DRILLING


Stuff like this makes it all the worse IMO. And yeah I noticed gas went up some .15 in the last 3 days all while the cost of oil went down.

[Bunky]

It is the GOP that talks about free market...free to take to your money.

[ZoranC]

Two words: Price manipulations

Read: U.S. oil probes focusing on price manipulation: report - Yahoo! News

[Strokin04]

Originally Posted by ZoranC

Two words: Price manipulations

Read: U.S. oil probes focusing on price manipulation: report - Yahoo! News

Because they can and who is going to stop them!!!!

[integritydetail]

It's always like that, we are buying refined oil and gasoline. The crude they used to make what we buy today was a higher price than crude is today, it will go down in a couple weeks when the higher priced crude has been used up.

[tripperfx3]

^^^ Agreed. Its part of economics and supply and demand. The reason the gas prices are so high is not because of shortages, fires, other BS like mentioned above, but its because of demand from the United States, India and China. These countries are developing very quickly and pulling farther away from being a 3rd world country. There for thats driving the price up for most places. I believe in another post someone posted a link with the cheapest gas in the world and Brazil had some of the best prices if I remember correctly.

[Gemini13]

Originally Posted by integritydetail

It's always like that, we are buying refined oil and gasoline. The crude they used to make what we buy today was a higher price than crude is today, it will go down in a couple weeks when the higher priced crude has been used up.

Yeah its called "futures" it takes time for the price to balance out.

[killrwheels@autogeek]

simple supply and demand .... we demand it and "willing" to pay the costs. Most dont remember the 70's and gas crunch, it was the cutting back and slowing demand that helped equilize the pricing. We dont wanna give up our SUV's and other high demand products.

The valuation of our currency, the dollar, is also a bit to blame. We can buy less for our money and those bringing money into the US can now buy more.

[Surfer]

Originally Posted by killrwheels@autogeek

The valuation of our currency, the dollar, is also a bit to blame. We can buy less for our money and those bringing money into the US can now buy more.

Guarantee that within the next 10 years the U.S. is pretty much done for (technically), we will be majority owned by foreign entities. Foreign investors are gobbling up RE and businesses like a redneck at a buffet. We're literally the laughing joke of the world. A friend was trying to pledge a large trust he has over seas that wasn't due yet with Barclay's, they said no prob, two months go by and nothing, don't return calls not even the ceo. So he has an attorney contact them, the trust handler at Barclay's sends a letter back to his attorney....of which heres an excerpt "I don't know what it is with Americans and rushing, no wonder everyone else hates you, so f@#k off and I'll get to it when I want to". All they had to do was send the auth that takes 5 min, but 2 months later nothing. Thats ok, he's got a flight over there to wrap up the trust and move it, of which the handler will be getting a big fist to the face, I've never seen my friend so pissed before whose normally calm. B/c of that screw up he lost 3 very large investments.

I deal with foreign investors and funds, capital markets, we are so royally screwed financially....yet what do we do, just keep on printing paper and going into more debt.