Reasons behind oil prices?

I just read an article on the drudge report that stated how oil is under $92 a barrel. I was just wondering if someone can tell me why we are still paying about $3.85 a gallon? I want some kind of facts that prove there is a reason why the price hasn't gone down as the price per barrel goes down (besides the fact that oil companies love making millions in profit) I mean it makes no sense. As the price of oil goes up, so does gas, but when oil goes down, gas stays high?? I was just wondering... Reasons behind oil prices?
Realize that any change in the price of oil (up or down) is not immediately reflected at the pump for seveal reasons. When a refinery buys oil, it does not reach them the next day. It usually takes weeks for the oil to reach them. So they oil they are refining today is oil they purchased weeks ago at the $125-150 price. They can not pass it on at the $92 price price without losing money.





You will notice that the price has gone down from what was a high in my area of $4.40 a gallon, to about $3.80. That reflects the amount of drop in the prices that happened about 3-4 weeks ago (when the oil was purchased.)





If oil prices remain low, as the lower oil finally reaches the stations, you will see the price adjust, as it has in the past.





Realize as that the price at the pump is based on specualtion. If the station has reason to believe that they will need to pay more next week to get their gas, they are going to charge more so they have the money. If they can not purchase next weeks gas, they are out of business.





So today's price of crude oil is only one factor in the price at the pump.Reasons behind oil prices?
well oil is down because world demand has dropped off. gasoline is high right now because some oil refineries are shut down due to the recent hurricanes in the gulf. government makes more off a gallon of gas than the oil companies do..taxes



Financial Market Fraud


plain and simple !



Hurricane Ike.





The reasons behind any current price are spread out among thousands of traders in futures markets.





Think of it as distributed intelligence. A very different concept than the Dems ideas of centralized decision-making as in statism and conspiracies.
Oil and fossil based fuels are outdated technology. We are running our cars the same way we did in the 1800's. Isn't that ridiculous?





Powerful oil companies have gotten in bed with the powerful GOP and have suppressed the natural evolution of technology in transportation.





And yet our government continues to give HUGE tax breaks to oil companies, while starving other competitive technologies.





This is what you get when you elect oil men and women into office. They look after their own.
because the world is crazy
I have no clue!! I'm tired of paying alot for gas. Hell I dont have enough gas to get by the rest of the week! my job is 30 mins away. This world is crazy!! It needs to stop.
I heard on the news this morning it has dropped to $55 per barrel. True or not I have no idea. But it said gas prices would drop down to $3.50 again. Um? I鈥檓 sorry, did I miss something here. Should it be MUCH lower than that?? We were at $120 a barrel not too long ago, yet prices don鈥檛 seem to be dropping all that much.





Makes ZERO sense to me!



The futures market price as dropped. That should mean in the future we will see the price drop. I have my doubts. But one of the reasons the price is so high is the rigs in the gulf are not operating right now as they have pulled the guys off because of the hurricanes. And a large percentage of our oil refineries are in TX and along the Gulf Coast, and in case you haven't heard, there was a big hurricane there and no power and the refineries can not run and a lot of gas stations in TX have no gas. And I would love it if gas was 3.85, try 4.15 here!!
Big Oil has you over a barrel and their good friend, Pres. Bush will never reprimand them.