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Author	Topic: Oil down $16 bucks and yet gas price is stable.	Post a Reply Back to Topics

kylesmail333 Rookie Author Akron Posts:16 Points:10,220 Joined:Aug 2008	Message Posted: May 25, 2012 12:04:09 PM Ignore kylesmail333 Report Abuse A couple weeks ago oil was at $106 a barrel and it was steady around that mark for a week or two. Speculators started talking and gas prices jumped while oil stayed at around $106 as usual. Now it has lowered to $90 a barrel and yet we still see the usual $.30 spikes once a week and cant seem to break the barrier to getting gas below 3.50 in canton, oh. I just dont understand because its not like anything new has come up in the news to keep the prices as high as they are while the oil prices have been lowering. I know people say we need to do something about gas prices, but no one is. Why do we put restrictions on banks now, but keep letting speculators words rule the cost of gas while the numbers show it should be around $2.00 a gallon? I admit i don't know a lot about the price of oil, but I do understand ways the producers manipulate production/news to keep prices up.

kylesmail333

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Akron

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Message Posted: May 25, 2012 12:04:09 PM

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A couple weeks ago oil was at $106 a barrel and it was steady around that mark for a week or two. Speculators started talking and gas prices jumped while oil stayed at around $106 as usual. Now it has lowered to $90 a barrel and yet we still see the usual $.30 spikes once a week and cant seem to break the barrier to getting gas below 3.50 in canton, oh. I just dont understand because its not like anything new has come up in the news to keep the prices as high as they are while the oil prices have been lowering. I know people say we need to do something about gas prices, but no one is. Why do we put restrictions on banks now, but keep letting speculators words rule the cost of gas while the numbers show it should be around $2.00 a gallon? I admit i don't know a lot about the price of oil, but I do understand ways the producers manipulate production/news to keep prices up.

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wornoutWV Sophomore Author West Virginia Posts:219 Points:5,660 Joined:Dec 2011	Message Posted: May 26, 2012 11:44:43 AM Ignore wornoutWV Report Abuse Bowler: "It's been going down about 10 cents a week or so in Huntingdon, PA. We're down to $3.599 now. Pennsylvania isn't a Speedway State, so we don't see 30-cent price spikes; the most our gas usually goes up at one time is 10-14 cents, and lately we've been in a downward trend." So it's your opinion that it's mostly Speedway that leads the spikes when they occur? I can certainly say that they were the first to raise prices last week.
Texacoguy Champion Author Tampa Posts:1,186 Points:72,640 Joined:Aug 2005	Message Posted: May 26, 2012 10:27:01 AM Ignore Texacoguy Report Abuse How do you figure the price is stable? Rack price in Tampa is down 70 cents in the past 60 days
PatAZ Champion Author Tucson Posts:9,227 Points:122,020 Joined:May 2008	Message Posted: May 26, 2012 9:09:03 AM Ignore PatAZ Report Abuse Not stable here,it has been working lower for almost two months.
MertieMan Champion Author Lexington Posts:14,768 Points:2,891,610 Joined:May 2005	Message Posted: May 26, 2012 7:41:37 AM Ignore MertieMan Report Abuse As I have said repeatedly, it is crooked, cut throat stealing at its best.
Banjoe Champion Author Winnipeg Posts:4,216 Points:610,185 Joined:Apr 2011	Message Posted: May 26, 2012 7:01:19 AM Ignore Banjoe Report Abuse Imagine what the pump prices would be now if the barrel had increased by $16? We'd be all screaming zombies over the gouging that would be going on.
WES03 Champion Author Maryland Posts:4,823 Points:1,261,370 Joined:Feb 2009	Message Posted: May 26, 2012 6:53:41 AM Ignore WES03 Report Abuse Gas prices around here have been falling for over a month now.
bowler93 All-Star Author Pennsylvania Posts:724 Points:460,950 Joined:May 2011	Message Posted: May 26, 2012 6:28:17 AM Ignore bowler93 Report Abuse It's been going down about 10 cents a week or so in Huntingdon, PA. We're down to $3.599 now. Pennsylvania isn't a Speedway State, so we don't see 30-cent price spikes; the most our gas usually goes up at one time is 10-14 cents, and lately we've been in a downward trend. [Edited by: bowler93 at 5/26/2012 7:30:01 AM EST]
AFOS Champion Author Chicago Posts:30,369 Points:3,069,140 Joined:Jul 2001	Message Posted: May 25, 2012 6:55:17 PM Ignore AFOS Report Abuse $90 oil and gas should be around $2.00 a gallon? What kind of math are you using? The cost of oil that goes into a gallon of gas at $90 per barrel would be around $2.05, then there's taxes, refiner profits, distributor profits, dealer profits and various fees how many gallons per barrel [Edited by: AFOS at 5/25/2012 7:55:46 PM EST]
shaun_smith10 Rookie Author Texas Posts:96 Points:12,415 Joined:May 2012	Message Posted: May 25, 2012 5:50:25 PM Ignore shaun_smith10 Report Abuse sucks dont it
ZZZoop Champion Author Virginia Posts:16,364 Points:3,122,600 Joined:May 2004	Message Posted: May 25, 2012 5:16:27 PM Ignore ZZZoop Report Abuse >>Now it has lowered to $90 a barrel and yet we still see the usual $.30 spikes once a week and cant seem to break the barrier to getting gas below 3.50 in canton, oh.<< Local phenomenon. We don't see any price spikes here in Virginia. Nationwide over the last month, the average price of gas has dropped from $3.83 to $3.67. Check the gas price charts on this website.
PatAZ Champion Author Tucson Posts:9,227 Points:122,020 Joined:May 2008	Message Posted: May 25, 2012 4:38:13 PM Ignore PatAZ Report Abuse Still going down here.
grampi47 Champion Author Illinois Posts:5,938 Points:78,845 Joined:Apr 2006	Message Posted: May 25, 2012 1:26:02 PM Ignore grampi47 Report Abuse That's how things work in a cartel market...