WHY?

[Bandit1]

Why is it that when crude oil was 140.00 per barrel, we paid 4.00 at the pump? Now crude is at 68.00 per barrel & it is still 2.77, here in Hanover, IN. My true question is, how come when the price of crude was going up quickly, so did the price at the pump, & now when it is going down like it did, how come we are still taking it in the rear end at the pump? Shouldn't it be somewhere around 1.98 now since the price of crude is less than half of what it was when we paid 4.00 per gallon? Just had to vent. Sorry.

[Cobra190]

In Lexington, Ky it is at 2.56 at most pumps and a few cents lower at some. You have to remember that profits and company agendas, government taxes and all sorts of matters come before the consumers. IMO -- At 4.00 a gallon fuel was still bought. The amount of fuel bought may not have been quite enough, but I don't think the demand dropped enough to bother the oil companies. Now at 3.50 a gallon everyone will up the fuel consumption again because they think it's cheap.

[GeoFisher]

Mostly bad timing, I think.............BUT there is probably some profiteering going on......

Most refineries are switching over to heating oil right now........AND since we're at CAPACITY at pretty much ALL refineries, we suffer a mini "gas" shortage.

I suspect in the next 4-6 weeks gas will be down around $2.00. This is dependent on a lot of things......No major supply shortages in OIL. OPEC NOT capping deliverables, etc, etc.

I think ANYTHING over $2.00 in 4-6 weeks if everthing else stays the same is profiteering......

AND remember this...........most gas stations operators ONLY make 5-20 cents per gallon.

AND a lot of states suspended gasoline tax, they MAY bring the taxes back or add additional taxes to shore up road revenues.........

Lots of stuff in play here...........I'm just GLAD it is around 2.75, cause I can go fishing 2-3 MORE trips this next year.

Later,

Geo

[mhall]

Price gouging true and simple. Jason they do it because they CAN.

[Mean Morone]

I paid $2.31 this morning. They are pratically giving it away. It was $2.41 last night.

I not going down the "evil oil company" road. I have relatives that make a living working for them. One relative is now on disability because he was in one of those huge explosions several years ago at a refinery in Texas that killed several people, some of them he was talking with just seconds before the explosion. Next time you want to go on a rant (yes I'm tempted too) about big oil, think of those who are risking their lives to give you the ability to drive to your fishing hole.

[mhall]

I paid $2.31 this morning. They are pratically giving it away. It was $2.41 last night.

I not going down the "evil oil company" road. I have relatives that make a living working for them. One relative is now on disability because he was in one of those huge explosions several years ago at a refinery in Texas that killed several people, some of them he was talking with just seconds before the explosion. Next time you want to go on a rant (yes I'm tempted too) about big oil, think of those who are risking their lives to give you the ability to drive to your fishing hole.

The guys busting their humps on the rigs and at the refineries aren't the ones taking advantage of us, it's their CEO BIGWIG bosses and their rich shareholding partners in crime. I appreciate all hardworking Joe's, been one all my life. Little guy always gets the shaft always has always will, just this one man's opinion.

[GeoFisher]

I don't know HOW many times it can be said, but OIL companies have one of the SMALLEST profit margins of ALL industries.............7 % profit on your product is NOT very much........

You want to talk about gouging........look at your local wal-mart or Bass Pro Shops, or Kroger, or , or, or...............they REGULARLY make 25-50% markup on their product.....LETS BITCH ABOUT THEM........

AND how about this..........

18% of EVERY gallon goes to Federal TAXES at 3 dollars.......that is 54 cents
09% of EVERY gallon goes to State TAXES at 3 dollars.........that is 27 cents.
04% of EVERY gallon goes to LOCAL/County Taxes at 3 dollars.........that is 12 cents.

ADD it UP.............TAXES eat up a TON of your MONEY. THIS is on TOP on the 20% you ALREADY paid in Income TAXES.........

As someone else said here a few times...........Your VOTE really counts this time.

[CMIDD]

I agree, a 7% profit margin is not much, BUT everyone has to buy gas. So its moving at a higher volume than say BPS or Wal Mart. I JUST left a gas station next to the shop here, and I overheard the employees saying that the station was paying $2.19 per gallon, YET the pump price was $2.55. Not gouging by any means, and I understand they have to make money. Just thought I would share.

[stratosjoe]

I also agree 7% is not a lot but at $4.00 agallon versus $2.50 a gallon thats 11 cents agallon ave staion has 10,00 gallon on hand $1100 a week difference Am I figuring wrong?

Had to edit this, if we don't want it we don't have to buy it. And true to this forum I want to make as much money as I can from all the people I can make it from cause I am a firm believer in Capitolistic way of life...

[know1]

If you'll remember, the price of gas rose more slowly than the price of oil, too. I remember that it had doubled in cost, but the cost of a gallon was well behind that. I think there's a delay.

[Fishin is life]

I am an average Joe and have to buy gas just like everybody else...but let me pose a simple question to you....if you were told you could get a pay raise at work...would you turn it down?...If you answered no then you understand why the oil companies do what they do...wether it be a couple hundred or thousand a year to us...its the same to them...money is money ....if you can get it, youre going to...you can say thats "price gouging" or whatever you want...but as the middle class goes higher...it makes the guy who makes minimum wages money worth less...so as you take your pay raise aren't you "price gouging" him...its called capatilism...

[Bandit1]

Sorry I vented & ticked some people off, next time I will keep it to myself.

FORGET I SAID ANYTHING.

Jason