I live in Colorado, Gas prices are right aropund .55 per gallon, while it is down $.45 from it’s peak a few months ago, it still seems artificially high. Crude oil is now trading at around 5 per barrel, down from a high of around 0, before when it was trading this low, gas prices were hovering around .50 per gallon. I was wondering if anyone has seen an article addressing this matter. Thanks.
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high gas prices in America <and btw.. our gas prices really don’t qualify as high> are cause by two factors 1) the price of crude oil
2) refining capability
keep in mind that although crude is DOWN… the US is peaked at refining capability… so if something limits our ability to refine gas from oil (say a hurricane sweeping through Houston) then gas prices may well go up.
Its all criminal.
Here is something else criminal: Ford has their 2009 Fiesta ECOnetic that gets 65mpg, but will not sell it in the US.
Because they claim "North Americans do not buy that many diesel vehicles"
The oil industry has routinely explained away high gas prices as a result of the high cost of oil. When the price of oil surges on the futures market, they immediately start charging you for the future price of oil at their retail gas pumps. Yet when the price of oil plummets, our gasoline prices barely budge, suggesting that oil companies are taking in huge profits at the refinery level.
Why are prices so high? Because in California, the lack of competition means oil companies can flaunt the law of supply and demand with impunity. Unlike genuine free markets, the major oil companies do not aggressively compete. If they did, our gas prices would now average $2.47 a gallon or less. Of course, things could be worse: we could live in Los Angeles, where according to the DOE, the price of gasoline has increased 7¢ between December 21 and January 7.
because people are to weak to stop buying it.
i bet the gas companies are pissed that they haven’t raised the price to 4 bucks 10 years ago. lol
stop buying, or stop crying
Im my opinion, the speculator’s are allowed off a leash. They run wild with baseless & utterly outrageous "fears" that aren’t there, and the investors get rich. You and I get poor, and pay around $1100 to fill the home heating oil tank, just once.