Why are gas prices still hanging around $3.60 nationally after oil has dropped by 40% over the last 2 months?

38.8% to be exact.





Asked this in other sections and no one had an answerWhy are gas prices still hanging around $3.60 nationally after oil has dropped by 40% over the last 2 months?
Hurricane Ike...You're lucky it didn't go up for you...It climbed a little for usWhy are gas prices still hanging around $3.60 nationally after oil has dropped by 40% over the last 2 months?
Greed.





This week the excuse was hurricane Ike, which did minimal damage to the oil infrastructure in the region. I wonder what the excuse will be next week





About a year ago oil was going for about $92 a barrel and regular unleaded was about $3.10.





Be thankful you are paying $3.60. Here in northern Wisconsin we are paying about $4.10.





The rules of supply and demand do not apply here. We can control the demand, but the big oil companies control the supply. With the prices going down the oil companies will start throttling back on the supply. They will pump less and refine less until the price goes back to where they want it. And they always have an excuse.





We can save all the fuel we can, but it will never do any good.





Our do nothing congress is not helping. Every few months they call the big rich oil executives in for questioning. They give a few lame answers and there is a lot of finger pointing, but nothing EVER happens.
For many reasons...1) the price of oil per barrel does not dictate directly how fast the price of gasoline is... that has to do with refineries and how much /they/ are pumping out and releasing... 2) gas prices have never nor will ever go down as quickly as they go up... mostly in part because the gas stations (and the companies that they are owned by) need to sell of the higher priced gasoline before they can lower the price....





Right now there is a lot of price gouging going on because of Ike causing the closer of many refineries along the Texas Coastline... many of which are still not operational (or fully operational) and aren't expected to be for a few more weeks...





Also I doubt that gas will lower below $3.... because that might lead us to absolute economic ruin way worse than what we are seeing now... AND if gas DOES go below $3 then the hope of alternative energy would be doomed because people would be turning on their engines again to go 2 blocks to pick up a gallon of milk.... and we would then again be dependent on gasoline and oil and not looking for other ways of producing energy.
I can only answer for Georgia and it's because of Hurricane Ike. We've got the highest average prices in the country.


I used to believe that it was not the greed of the oil companies but I'm beginning to believe differently. Unfortunately most of our oil comes from foreign companies and Obama's windfall tax won't affect them.
Bush %26amp; his oil buddies lining their pockets before he leaves office.





Hurricane my azz...BEFORE the hurricanes hit, oil prices DROPPED greatly but we saw VERY LITTLE change at the pumps.


The lowest it was here in SW Ohio was around $3.45 down from $4.00 at it's peak in July.
What the hell are you alking about!?!? I live in western north carolina, and the price of gas has been over 3.80 a gallon for the last 2 years and right now (due to the 'hurricane damage in texas' it is 4.29 a gallon.
Because Republicans run the oil/gas business in this country. It's the ';greed'; factor at work....again.
Hurricane Ike. Simple.
Supply.


The oil platforms in the gulf are still down because of hurricane Ike. They won't be up for another 4-5 days.
refineries are not producing like they should be.
This can be answered in one word.





Greed!





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libs