F... gas prices

[GTripp0012]

Originally Posted by dmek25

the price of a barrel of oil hit a high of around 140/ per. gas prices around here hit a high of around 4.00 a gallon. now that oil is under a 100.00/ barrel, why did the price of gas only drop roughly .40 a gallon? im sure schneed has a logical reason to why its OK that us Americans are allowed to be ripped off

You do understand that if gas stations could afford to lower prices any future, the fact that they are in competition with one another would drive the price down, right?

I don't claim to be an expert, it's really just common sense. If a gas station could do something to outsell all their competition, they definately would.

The reason they can't go any lower with their prices is because they can't afford to stay in business in doing so.

[steveo395]

Originally Posted by dmek25

the price of a barrel of oil hit a high of around 140/ per. gas prices around here hit a high of around 4.00 a gallon. now that oil is under a 100.00/ barrel, why did the price of gas only drop roughly .40 a gallon? im sure schneed has a logical reason to why its OK that us Americans are allowed to be ripped off

The price of a barrel of oil isn't the only thing controlling gas prices. There is still the cost of refining, shipping, paying the people that work at the gas station, taxes, and that evil thing, profits. The price of a barrel of oil is only part of the equation, so a 30% drop in the price of oil is not going to be a 30% drop in the price of gas. So yes, there is a logical reason as to why your getting "ripped off."

[GhettoDogAllStars]

Originally Posted by GTripp0012

You do understand that if gas stations could afford to lower prices any future, the fact that they are in competition with one another would drive the price down, right?

I don't claim to be an expert, it's really just common sense. If a gas station could do something to outsell all their competition, they definately would.

The reason they can't go any lower with their prices is because they can't afford to stay in business in doing so.

Exactly. The profit margin on gasoline is very small. Stations make more profit on a cup of coffee than they do on a gallon of gas.

[jsarno]

Originally Posted by GhettoDogAllStars

Exactly. The profit margin on gasoline is very small. Stations make more profit on a cup of coffee than they do on a gallon of gas.

Well, that's anyone. A cup of coffee is what...$2? (I don't drink coffee, I don't know) But it only costs around .15-.20 cents or possibly less to make, so that's a nice big profit.
That being said, there is no argument that the gas companies are making record profits, more than double what they used to make, so for them not to drop the prices in accordance to what the price per barrel is, is gouging the country.
You can't say "well there are other reasons". That's simply not true. Look at the price of gas years ago when the price per barrel was under $100, the price per gallon was a lot less than it is now and they didn't go out of business because of it. The gas companies have been waiting for this to make much larger profits.

Everyone incorrectly blames Bush...it's the gas companies. Guess what, no matter who becomes our president will still have this problem too. Until we get off our dependancy for the "black crack", we will remain in this situation.

[GhettoDogAllStars]

Originally Posted by jsarno

Well, that's anyone. A cup of coffee is what...$2? (I don't drink coffee, I don't know) But it only costs around .15-.20 cents or possibly less to make, so that's a nice big profit.
That being said, there is no argument that the gas companies are making record profits, more than double what they used to make, so for them not to drop the prices in accordance to what the price per barrel is, is gouging the country.
You can't say "well there are other reasons". That's simply not true. Look at the price of gas years ago when the price per barrel was under $100, the price per gallon was a lot less than it is now and they didn't go out of business because of it. The gas companies have been waiting for this to make much larger profits.

Everyone incorrectly blames Bush...it's the gas companies. Guess what, no matter who becomes our president will still have this problem too. Until we get off our dependancy for the "black crack", we will remain in this situation.

"What does the average oil company make today on the sale of a gallon of gas? Ten cents.

The federal tax on gasoline, on the other hand, is nearly twice that. Then there's state gasoline taxes. (If you live in New York, for example, you're paying 68 cents a gallon in taxes.)

If Exxon is gouging us at ten cents a gallon, what exactly is the federal government doing to us at 18.4 cents a gallon?"

Oil Company Profits

The Tax Foundation - State and Federal Treasuries "Profit" More from Gasoline Sales than U.S. Oil Industry

[Beemnseven]

Originally Posted by jsarno

Well, that's anyone. A cup of coffee is what...$2? (I don't drink coffee, I don't know) But it only costs around .15-.20 cents or possibly less to make, so that's a nice big profit.
That being said, there is no argument that the gas companies are making record profits, more than double what they used to make, so for them not to drop the prices in accordance to what the price per barrel is, is gouging the country.
You can't say "well there are other reasons". That's simply not true. Look at the price of gas years ago when the price per barrel was under $100, the price per gallon was a lot less than it is now and they didn't go out of business because of it. The gas companies have been waiting for this to make much larger profits.

Everyone incorrectly blames Bush...it's the gas companies. Guess what, no matter who becomes our president will still have this problem too. Until we get off our dependancy for the "black crack", we will remain in this situation.

Can you give us a definition of "gouging" ?? What amount in profit is acceptable to you before it becomes "gouging" ?

[Smooter]

Whats everyone paying for gas lately? Its down to 2.33 here in OKC.

[gibbsisgod]

Originally Posted by Smooter

Whats everyone paying for gas lately? Its down to 2.33 here in OKC.

I think thats Fed up. I'm still paying 3.19 in western MD.

[MTK]

$3.19 is as low as I've seen it around my way. Most places are in the low $3.20's

[cpayne5]

I saw 2.99 this morning in Fauquier county.

[724Skinsfan]

$2.99. So cheap we're mixing it in with our Kool-Aid.

[mooby]

In Woodbridge my local Wawa had it for 3.09.

[BDBohnzie]

The Exxon and Wawa nearest to me is $3.11. However, the Frederick Costco is selling it for $2.92. Supposedly there was a huge line over the weekend, many deep, and long wait times.

[GTripp0012]

Yesterday in Grand Rapids, I got $3.03.

[firstdown]

Here in Chesapeake Va. Farm Fresh $2.88.

Your right Matty two months to the date this same Farm Fresh $1.52