Gas prices not falling as fast as oil's drop

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Friday, November 21, 2008 1:38:15 PM

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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 10:50:25 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:1,340 Points:261,175 Joined:Jan 2008	Message Posted: 9/7/2008 3:23:35 PM	Ignore magnumCA Report Abuse
	Never does
jb47 All-Star Author Shreveport Posts:512 Points:289,850 Joined:Aug 2007	Message Posted: 9/7/2008 12:27:36 PM	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:1,495 Points:114,740 Joined:Jul 2008	Message Posted: 9/7/2008 11:45:12 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:1,907 Points:430,115 Joined:Jul 2007	Message Posted: 9/7/2008 10:31:14 AM	Ignore Rageagainsttm Report Abuse
	kalamazoo is a funny word dude
Jacks45 Champion Author Michigan Posts:2,173 Points:438,000 Joined:Jul 2007	Message Posted: 9/7/2008 10:28:34 AM	Ignore Jacks45 Report Abuse
	Up in Kalamzoo Mi since midnight last night.
BluestarAZ Sophomore Author Arizona Posts:102 Points:66,945 Joined:May 2008	Message Posted: 9/7/2008 10:27:48 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:397 Points:705,725 Joined:Mar 2006	Message Posted: 9/7/2008 10:26:57 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:111,110 Joined:Mar 2008	Message Posted: 9/7/2008 10:26:14 AM	Ignore dougrusty Report Abuse
	Old....
PioneerUrban All-Star Author West Virginia Posts:654 Points:129,985 Joined:Jun 2008	Message Posted: 9/7/2008 10:24:11 AM	Ignore PioneerUrban Report Abuse
	Old
REVLAW Champion Author San Antonio Posts:2,104 Points:396,760 Joined:Jul 2007	Message Posted: 9/7/2008 10:21:07 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 10:16:26 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:4,902 Points:1,062,450 Joined:Jul 2005	Message Posted: 9/7/2008 10:13:23 AM	Ignore Somis1 Report Abuse
	Surprise!
EXTREMESNOW Champion Author Oregon Posts:1,191 Points:310,585 Joined:Jul 2006	Message Posted: 9/7/2008 10:13:00 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 10:12:55 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:189 Points:93,100 Joined:Nov 2005	Message Posted: 9/7/2008 10:12:02 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:505 Points:127,480 Joined:Jun 2008	Message Posted: 9/7/2008 10:10:16 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:550,605 Joined:May 2004	Message Posted: 9/7/2008 10:08:02 AM	Ignore Terrapinone Report Abuse
	This should be no surprise
PhilMay Champion Author Detroit Posts:1,051 Points:173,670 Joined:May 2008	Message Posted: 9/7/2008 10:06:51 AM	Ignore PhilMay Report Abuse
	√
Toppers All-Star Author Atlanta Posts:887 Points:858,850 Joined:Mar 2005	Message Posted: 9/7/2008 10:05:49 AM	Ignore Toppers Report Abuse
	Duh!
sta135 Champion Author New York Posts:1,961 Points:138,185 Joined:Jul 2008	Message Posted: 9/7/2008 10:02:47 AM	Ignore sta135 Report Abuse
	Suddenly we're all "experts" on the oil business. :)
HDUltra03 Champion Author Oregon Posts:6,905 Points:1,069,500 Joined:Nov 2005	Message Posted: 9/7/2008 10:02:47 AM	Ignore HDUltra03 Report Abuse
	Way to go MR. Obvious!
Pseudorious Veteran Author Philadelphia Posts:474 Points:220,575 Joined:Sep 2005	Message Posted: 9/7/2008 10:01:09 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:89,340 Joined:Sep 2005	Message Posted: 9/7/2008 9:59:48 AM	Ignore smokinjoe999 Report Abuse
	What a surprise
rvnvet70 Champion Author Michigan Posts:1,836 Points:990,230 Joined:Sep 2005	Message Posted: 9/7/2008 9:59:44 AM	Ignore rvnvet70 Report Abuse
	We need lower prices, period.
flyfast Champion Author Kansas City Posts:1,210 Points:237,230 Joined:Jan 2008	Message Posted: 9/7/2008 9:59:16 AM	Ignore flyfast Report Abuse
	give it time
lukelewis Sophomore Author Kentucky Posts:143 Points:306,355 Joined:Jun 2006	Message Posted: 9/7/2008 9:56:07 AM	Ignore lukelewis Report Abuse
	They're all crooks
KCTraveler Champion Author Kansas City Posts:1,042 Points:81,790 Joined:Aug 2008	Message Posted: 9/7/2008 9:54:28 AM	Ignore KCTraveler Report Abuse
	This is not a news flash.
mhewer All-Star Author Detroit Posts:506 Points:184,715 Joined:Sep 2007	Message Posted: 9/7/2008 9:53:50 AM	Ignore mhewer Report Abuse
	surprise, surprise.
radicale All-Star Author Calgary Posts:689 Points:184,500 Joined:Aug 2006	Message Posted: 9/7/2008 9:53:35 AM	Ignore radicale Report Abuse
	No kidding. Someone is making $ off of us.
Gassie1 Champion Author Akron Posts:4,402 Points:565,835 Joined:Apr 2007	Message Posted: 9/7/2008 9:51:32 AM	Ignore Gassie1 Report Abuse
	I agree
rgj316 All-Star Author Rochester Posts:549 Points:92,195 Joined:Jul 2008	Message Posted: 9/7/2008 9:48:56 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:262,550 Joined:May 2007	Message Posted: 9/7/2008 9:45:44 AM	Ignore GASHAMMERS Report Abuse
	gas needs to follow drop of oil!
Rick01 All-Star Author Utah Posts:713 Points:778,015 Joined:Sep 2005	Message Posted: 9/7/2008 9:42:18 AM	Ignore Rick01 Report Abuse
	nothing but greed
TRAIN RIDER Champion Author San Bernardino Posts:1,145 Points:1,172,380 Joined:Oct 2004	Message Posted: 9/7/2008 9:40:14 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:3,180 Points:132,610 Joined:Jun 2008	Message Posted: 9/7/2008 9:35:12 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:739 Points:371,765 Joined:Jan 2007	Message Posted: 9/7/2008 9:31:36 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 9:30:17 AM	Ignore smama Report Abuse
	I think I posted on this a couple of days ago.
s6sputnik Champion Author Austin Posts:2,188 Points:442,820 Joined:Jun 2007	Message Posted: 9/7/2008 9:29:19 AM	Ignore s6sputnik Report Abuse
	Never falls as fast as it goes up!
Gassipper30mpg Veteran Author Rhode Island Posts:404 Points:105,835 Joined:Jul 2008	Message Posted: 9/7/2008 9:27:28 AM	Ignore Gassipper30mpg Report Abuse
	Keep posting. Use less.
zivkam Veteran Author Dallas Posts:462 Points:196,600 Joined:Dec 2007	Message Posted: 9/7/2008 9:27:08 AM	Ignore zivkam Report Abuse
	Old news from Friday
Razzincain All-Star Author Kansas Posts:746 Points:527,135 Joined:Aug 2005	Message Posted: 9/7/2008 9:27:04 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 9:25:22 AM	Ignore eddyp94 Report Abuse
	oil goes down, food prices goes up...
CSharpGuy Champion Author Colorado Springs Posts:1,286 Points:280,580 Joined:Jan 2008	Message Posted: 9/7/2008 9:19:28 AM	Ignore CSharpGuy Report Abuse
	It's the way of things. Fast to rise, slow to drop.
Price_Patrol Champion Author Cincinnati Posts:1,248 Points:470,740 Joined:Jun 2007	Message Posted: 9/7/2008 9:19:11 AM	Ignore Price_Patrol Report Abuse
	This has been going on for sometime.
weenerdog Champion Author Detroit Posts:1,652 Points:302,310 Joined:Jan 2008	Message Posted: 9/7/2008 9:18:19 AM	Ignore weenerdog Report Abuse
	And gas has gone up five cents in the past three days
dreamweaver7050 All-Star Author Louisiana Posts:675 Points:479,390 Joined:Sep 2006	Message Posted: 9/7/2008 9:16:10 AM	Ignore dreamweaver7050 Report Abuse
	old
Laser917 Champion Author Minnesota Posts:2,388 Points:798,055 Joined:Oct 2005	Message Posted: 9/7/2008 9:13:47 AM	Ignore Laser917 Report Abuse
	Where is our attorney general at anyway. Let's give him something to do.
matman01 Champion Author Detroit Posts:2,449 Points:391,705 Joined:May 2007	Message Posted: 9/7/2008 9:12:57 AM	Ignore matman01 Report Abuse
	I read this yesterday
jmuse All-Star Author Long Island Posts:933 Points:189,905 Joined:May 2008	Message Posted: 9/7/2008 9:12:52 AM	Ignore jmuse Report Abuse
	The oil companies wouldn't gouge us, would they?
reb4 Champion Author Chicago Posts:1,834 Points:199,310 Joined:Sep 2004	Message Posted: 9/7/2008 9:12:23 AM	Ignore reb4 Report Abuse
	Wow, I bet if their is an investigation in price of gas, price will drop faster.....