Gas prices not falling as fast as oil's drop

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Thursday, November 20, 2008 7:52:15 AM

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GasBuddy News Article

Gas prices not falling as fast as oil's drop Friday, September 05, 2008
The Seattle Times -- WASHINGTON — Oil prices have fallen more than 26 percent from their July 11 record high of $147.27 a barrel, and all evidence points to further declines. The price Americans pay at the gas pump has fallen a more modest 12 percent at Thursday's national average of $3.67 a gallon. That's led some consumers to wonder if they're being gouged. In the Seattle-Bellevue-Everett area, the average price Thursday for regular was $3.865, compared with $2.845 a year ago. Here are some reasons why the price of gasoline, while dropping, isn't moving in lock-step with falling oil prices.
Visit The Seattle Times for full article

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JT Moderator	Message Posted: 9/5/2008 9:50:25 AM	Ignore JT Report Abuse
	Friday, September 05, 2008 The Seattle Times -- WASHINGTON — Oil prices have fallen more than 26 percent from their July 11 record high of $147.27 a barrel, and all evidence points to further declines. The price Americans pay at the gas pump has fallen a more modest 12 percent at Thursday's national average of $3.67 a gallon. That's led some consumers to wonder if they're being gouged. In the Seattle-Bellevue-Everett area, the average price Thursday for regular was $3.865, compared with $2.845 a year ago. Here are some reasons why the price of gasoline, while dropping, isn't moving in lock-step with falling oil prices. Visit The Seattle Times for full article

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magnumCA Champion Author Los Angeles Posts:1,332 Points:259,975 Joined:Jan 2008	Message Posted: 9/7/2008 2:23:35 PM	Ignore magnumCA Report Abuse
	Never does
jb47 All-Star Author Shreveport Posts:501 Points:287,900 Joined:Aug 2007	Message Posted: 9/7/2008 11:27:36 AM	Ignore jb47 Report Abuse
	Gas prices only stay in step with oil prices when it is on the way up. When oil drops then we just don't understand the relationship between the two prices.
GasholeMI Champion Author Lansing Posts:1,479 Points:113,765 Joined:Jul 2008	Message Posted: 9/7/2008 10:45:12 AM	Ignore GasholeMI Report Abuse
	BluestarAZ, it is not just the CEO's of oil companies. It is the higher up politicians with their high salaries, vacations, and COLA's many linked to inflation. It is many of the CEO's of all large companies who get fat salaries, stock options and huge retirements (even if they are fired). It is even the teaching profession where it is often top heavy with superintendents. A recent article on the Detroit area said one superintendent got the equivelent of over $200,000. Would you want to vote to increase the school millage in that district?
Rageagainsttm Champion Author Tampa Posts:1,902 Points:429,140 Joined:Jul 2007	Message Posted: 9/7/2008 9:31:14 AM	Ignore Rageagainsttm Report Abuse
	kalamazoo is a funny word dude
Jacks45 Champion Author Michigan Posts:2,168 Points:437,025 Joined:Jul 2007	Message Posted: 9/7/2008 9:28:34 AM	Ignore Jacks45 Report Abuse
	Up in Kalamzoo Mi since midnight last night.
BluestarAZ Sophomore Author Arizona Posts:100 Points:66,655 Joined:May 2008	Message Posted: 9/7/2008 9:27:48 AM	Ignore BluestarAZ Report Abuse
	Supposedly the oil companies only make an 8% profit, but when exiting CEOs get a huge severance package, something is wrong somewhere.
wizzard1222 Veteran Author St. Louis Posts:387 Points:703,775 Joined:Mar 2006	Message Posted: 9/7/2008 9:26:57 AM	Ignore wizzard1222 Report Abuse
	Up 20 cents in one pre-storm DAY and down 2 cents post storm WEEK.
dougrusty Veteran Author Illinois Posts:414 Points:110,360 Joined:Mar 2008	Message Posted: 9/7/2008 9:26:14 AM	Ignore dougrusty Report Abuse
	Old....
PioneerUrban All-Star Author West Virginia Posts:645 Points:129,010 Joined:Jun 2008	Message Posted: 9/7/2008 9:24:11 AM	Ignore PioneerUrban Report Abuse
	Old
REVLAW Champion Author San Antonio Posts:2,099 Points:395,810 Joined:Jul 2007	Message Posted: 9/7/2008 9:21:07 AM	Ignore REVLAW Report Abuse
	Old news. Never does, profit is at stake.
Ken33AR Rookie Author Arkansas Posts:1 Points:470 Joined:Sep 2008	Message Posted: 9/7/2008 9:16:26 AM	Ignore Ken33AR Report Abuse
	Uh huh. Didn't go as high as they should have when oil was up? And Still posted record profits? Somebody needs to get a grip.
Somis1 Champion Author Ventura Posts:4,892 Points:1,062,000 Joined:Jul 2005	Message Posted: 9/7/2008 9:13:23 AM	Ignore Somis1 Report Abuse
	Surprise!
EXTREMESNOW Champion Author Oregon Posts:1,186 Points:309,610 Joined:Jul 2006	Message Posted: 9/7/2008 9:13:00 AM	Ignore EXTREMESNOW Report Abuse
	YOSEMITE SAM ROCKS!
jrnascar Veteran Author Dayton Posts:276 Points:177,125 Joined:Jul 2006	Message Posted: 9/7/2008 9:12:55 AM	Ignore jrnascar Report Abuse
	Just another news article defending why the price of gas isn't falling like it should be.
coke_kid Sophomore Author Chicago Posts:184 Points:92,375 Joined:Nov 2005	Message Posted: 9/7/2008 9:12:02 AM	Ignore coke_kid Report Abuse
	I DONT TRUST OUR GOVERNMENT AND I DONT TRUST OIL COMPANYS AND I DONT TRUST GAS STATION OWNERS AND I DONT TRUST THIS WEB SITE!
hank1326 All-Star Author Los Angeles Posts:500 Points:125,755 Joined:Jun 2008	Message Posted: 9/7/2008 9:10:16 AM	Ignore hank1326 Report Abuse
	Ditto to flyfast. Keep on reducing our driving needs and buying gas only at stations with responsive prices.
Terrapinone All-Star Author Baltimore Posts:676 Points:549,730 Joined:May 2004	Message Posted: 9/7/2008 9:08:02 AM	Ignore Terrapinone Report Abuse
	This should be no surprise
PhilMay Champion Author Detroit Posts:1,045 Points:172,695 Joined:May 2008	Message Posted: 9/7/2008 9:06:51 AM	Ignore PhilMay Report Abuse
	√
Toppers All-Star Author Atlanta Posts:882 Points:857,875 Joined:Mar 2005	Message Posted: 9/7/2008 9:05:49 AM	Ignore Toppers Report Abuse
	Duh!
sta135 Champion Author New York Posts:1,933 Points:136,235 Joined:Jul 2008	Message Posted: 9/7/2008 9:02:47 AM	Ignore sta135 Report Abuse
	Suddenly we're all "experts" on the oil business. :)
HDUltra03 Champion Author Oregon Posts:6,900 Points:1,068,525 Joined:Nov 2005	Message Posted: 9/7/2008 9:02:47 AM	Ignore HDUltra03 Report Abuse
	Way to go MR. Obvious!
Pseudorious Veteran Author Philadelphia Posts:469 Points:219,600 Joined:Sep 2005	Message Posted: 9/7/2008 9:01:09 AM	Ignore Pseudorious Report Abuse
	Since we never paid $5 for gas, I'm happy the market is recouping some of the losses it took on my behalf. Other posters seem largely unaware that the oil price spike was never absorbed by the market. They can check the graphs right here.
smokinjoe999 Rookie Author Ontario Posts:52 Points:89,065 Joined:Sep 2005	Message Posted: 9/7/2008 8:59:48 AM	Ignore smokinjoe999 Report Abuse
	What a surprise
rvnvet70 Champion Author Michigan Posts:1,827 Points:988,300 Joined:Sep 2005	Message Posted: 9/7/2008 8:59:44 AM	Ignore rvnvet70 Report Abuse
	We need lower prices, period.
flyfast Champion Author Kansas City Posts:1,205 Points:236,255 Joined:Jan 2008	Message Posted: 9/7/2008 8:59:16 AM	Ignore flyfast Report Abuse
	give it time
lukelewis Sophomore Author Kentucky Posts:143 Points:306,055 Joined:Jun 2006	Message Posted: 9/7/2008 8:56:07 AM	Ignore lukelewis Report Abuse
	They're all crooks
KCTraveler Champion Author Kansas City Posts:1,029 Points:80,815 Joined:Aug 2008	Message Posted: 9/7/2008 8:54:28 AM	Ignore KCTraveler Report Abuse
	This is not a news flash.
mhewer All-Star Author Detroit Posts:505 Points:184,445 Joined:Sep 2007	Message Posted: 9/7/2008 8:53:50 AM	Ignore mhewer Report Abuse
	surprise, surprise.
radicale All-Star Author Calgary Posts:684 Points:183,525 Joined:Aug 2006	Message Posted: 9/7/2008 8:53:35 AM	Ignore radicale Report Abuse
	No kidding. Someone is making $ off of us.
Gassie1 Champion Author Akron Posts:4,392 Points:563,885 Joined:Apr 2007	Message Posted: 9/7/2008 8:51:32 AM	Ignore Gassie1 Report Abuse
	I agree
rgj316 All-Star Author Rochester Posts:549 Points:91,320 Joined:Jul 2008	Message Posted: 9/7/2008 8:48:56 AM	Ignore rgj316 Report Abuse
	just goes to show you how much the exec's at big oil companies are ripping us off
GASHAMMERS Sophomore Author Kentucky Posts:147 Points:260,925 Joined:May 2007	Message Posted: 9/7/2008 8:45:44 AM	Ignore GASHAMMERS Report Abuse
	gas needs to follow drop of oil!
Rick01 All-Star Author Utah Posts:708 Points:777,040 Joined:Sep 2005	Message Posted: 9/7/2008 8:42:18 AM	Ignore Rick01 Report Abuse
	nothing but greed
TRAIN RIDER Champion Author San Bernardino Posts:1,135 Points:1,170,730 Joined:Oct 2004	Message Posted: 9/7/2008 8:40:14 AM	Ignore TRAIN RIDER Report Abuse
	OH WELL SOME ONE NEEDS TO SHOW THE PEOPLE HOW TO BE GREEDY. HOW ELSE WOULD WE KNOW WHAT GREED WAS?
qaqcsup Champion Author Michigan Posts:3,163 Points:131,635 Joined:Jun 2008	Message Posted: 9/7/2008 8:35:12 AM	Ignore qaqcsup Report Abuse
	Maybe Yosemite Sam should make an appearance at some of the gas station HQ's for some inspirational visits. lol
cudatim All-Star Author San Antonio Posts:737 Points:371,625 Joined:Jan 2007	Message Posted: 9/7/2008 8:31:36 AM	Ignore cudatim Report Abuse
	It moves up fast with news of increase in price of oil to pay for future deliveries but then when oil drops you have to pay for the current cost of the gas in the tanks. Looks like you pay for it twice..
smama Sophomore Author Illinois Posts:160 Points:54,660 Joined:Jun 2008	Message Posted: 9/7/2008 8:30:17 AM	Ignore smama Report Abuse
	I think I posted on this a couple of days ago.
s6sputnik Champion Author Austin Posts:2,184 Points:441,140 Joined:Jun 2007	Message Posted: 9/7/2008 8:29:19 AM	Ignore s6sputnik Report Abuse
	Never falls as fast as it goes up!
Gassipper30mpg Veteran Author Rhode Island Posts:399 Points:104,860 Joined:Jul 2008	Message Posted: 9/7/2008 8:27:28 AM	Ignore Gassipper30mpg Report Abuse
	Keep posting. Use less.
zivkam Veteran Author Dallas Posts:462 Points:195,850 Joined:Dec 2007	Message Posted: 9/7/2008 8:27:08 AM	Ignore zivkam Report Abuse
	Old news from Friday
Razzincain All-Star Author Kansas Posts:741 Points:526,160 Joined:Aug 2005	Message Posted: 9/7/2008 8:27:04 AM	Ignore Razzincain Report Abuse
	More money for them
eddyp94 All-Star Author Ontario Posts:901 Points:226,305 Joined:Mar 2008	Message Posted: 9/7/2008 8:25:22 AM	Ignore eddyp94 Report Abuse
	oil goes down, food prices goes up...
CSharpGuy Champion Author Colorado Springs Posts:1,281 Points:279,605 Joined:Jan 2008	Message Posted: 9/7/2008 8:19:28 AM	Ignore CSharpGuy Report Abuse
	It's the way of things. Fast to rise, slow to drop.
Price_Patrol Champion Author Cincinnati Posts:1,247 Points:469,970 Joined:Jun 2007	Message Posted: 9/7/2008 8:19:11 AM	Ignore Price_Patrol Report Abuse
	This has been going on for sometime.
weenerdog Champion Author Detroit Posts:1,647 Points:301,335 Joined:Jan 2008	Message Posted: 9/7/2008 8:18:19 AM	Ignore weenerdog Report Abuse
	And gas has gone up five cents in the past three days
dreamweaver7050 All-Star Author Louisiana Posts:665 Points:477,440 Joined:Sep 2006	Message Posted: 9/7/2008 8:16:10 AM	Ignore dreamweaver7050 Report Abuse
	old
Laser917 Champion Author Minnesota Posts:2,383 Points:797,080 Joined:Oct 2005	Message Posted: 9/7/2008 8:13:47 AM	Ignore Laser917 Report Abuse
	Where is our attorney general at anyway. Let's give him something to do.
matman01 Champion Author Detroit Posts:2,443 Points:390,730 Joined:May 2007	Message Posted: 9/7/2008 8:12:57 AM	Ignore matman01 Report Abuse
	I read this yesterday
jmuse All-Star Author Long Island Posts:928 Points:188,930 Joined:May 2008	Message Posted: 9/7/2008 8:12:52 AM	Ignore jmuse Report Abuse
	The oil companies wouldn't gouge us, would they?
reb4 Champion Author Chicago Posts:1,825 Points:198,335 Joined:Sep 2004	Message Posted: 9/7/2008 8:12:23 AM	Ignore reb4 Report Abuse
	Wow, I bet if their is an investigation in price of gas, price will drop faster.....