Oil is down 12 percent for the week...........I WONDER

[kydonky]

I wonder how long it will take gas prices to drop 12 percent.

FYI........at 3.91 a gallon, 12 percent would be .47 cents......

So, we should see 3.45 a gallon gas sometime in the next week or so. EVEN if oil climbs back to 110 in a week, we should STILL see a drop in prices.

I bet we don't get close to 3.45 in the next 4 weeks...........

Later,

Geo

Geo, the way it works is that if the price crude oil goes up say 10% the oil companies must raise the price of gas by at least 20% in order to offset the price of the crude oil.

If the price of crude oil goes down by 10% the oil companies must raise the price of gas by at least 20% to meet demand.

Should the price of crude oil remain unchanged the oil companies must raise the price of gas by at least 20% to maintain stability.

Log on to Big Gas and Oil website to learn more. Explains it all.