Here's a little consumer advocate-based gasoline price monitoring one can undertake, and you can forward the results to your local Congressman/woman. Oil accounts for about 60-65% of the price of U.S. gasoline. For every $1 that oil rises, the price of U.S. regular unleaded rises about 2.4 cents a gallon.
Allow 2-3 weeks for the 'new oil' to work its way into the system, and monitor whether gasoline drops 30 cents per gallon in your area. If it doesn't, something fishy is probably going on: gasoline demand has basically been flat, on a year-over-year basis, and with the July 4th holiday behind us, we're past the historical peak period for gasoline prices. Further, stockpiles of gasoline are at their highest level in more than a decade, according to U.S. Energy Information Administration data. In other words, there's no reason for gasoline prices not to drop about 30 cents – and more, if the price of oil continues to decline -- barring a hurricane that closes refineries, or some other unforeseen problem, etc.
I'll provide an update in about 2-3 weeks. In the meantime, feel free to add your comments on the gas price trend in your area.
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Reader Comments (Page 4 of 4)
11-13-2009 @ 1:08PM
Latesleeper35 said...
Stop griping and help solve the problem -SLOW DOWN. It is a fact that driving at 60 MPH and below saves gas. Multiplied by hundreds of thousands of drivers daily this is an enormous amount of saved gas which can quickly glut the system. Trust me, you may get a temporary high by speeding and weaving in and out of traffic thinking you are saving time BUT all those people you passed by miles back - look closely - they will be all around you at the next traffic jam or stop light (with extra gas in their tanks).
7-11-2009 @ 5:26AM
dang1067 said...
You want to save gas????
Torch all your GOD-DAMN primitive gas-drinking piece of crap and buy yourself a bike, or pair of made in USA walking shoes, or buy yourself a 100% electric vehicle!!!
As much as I despise overpriced oil and fuel price, I despise even more of all automakers that keeps building primitive internal combustion gas drinking vehicles... Such technology is of the past f*cking Neanderthal caveman days!!!
Electric and hydrogen technology has been discovered since way back over hundred years, and these F*CKERS are still building these f*cking Neanderthal polluting retarded vehicles in the name of f*cking Wall Street to suck and milk profits on every god-damn idiots on the face of this god-forsaken planet!!!
7-11-2009 @ 6:26AM
jack said...
what ever the saudi's make us pay for oil .why don't we charge them the same price for wheat or whatever they buy from us. lets see how long the prices stay up
7-11-2009 @ 8:02AM
Betsy Snow said...
I'm not a blogger, but today I actually stopped to read some of what is on this page. I am in agreement with some of the statements that have been posted. Retailers do not make money on gas, $.02 to $.04 is just about the limit per gallon of gas. They do sell down the higher price gas before ordering the lower price gas, very legal, but they call heaquarters every day to check on the daily price to see where they need to put that days price. They are the little guys in this whole sceme of things that is going on. In order to get to the top dogs of this problem, US citizens need to band together and go after them legally, with lawyers who have no interest in oil companies or in politics. Money would need to be raised that is not backed by govenment interests or anyone who would make a profit. Is there anyone out there who would take on this problem? Anyone at all?
7-11-2009 @ 8:58AM
Lisa said...
SCREW OUR GOVERNMENT WHO ARE SCREWING US FOR YEARS ON A DAILY BASIS!! They are the biggest and worst MAFIA in the world and we are the sheep and slaves suffering for their money spending and pocketing and screwing us all the time. We Americans need to all pull together in masses like Iran and protest until something is done instead of sitting and complaining. WE THE PEOPLE NEED TO FIGHT THIS ATROCITY BEING DONE TO ALL OF US. I'd say a civil war! Enough is enough!! Bush should have been inpeached but was not, he should be tried for war crimes and is not. If you love your country and your children and grandchildren then damn it, get out there and protest and fight if we have to, to get out country back the way it should be!
7-11-2009 @ 9:35AM
MD said...
How come the people of Alaska get a check from oil and the people of Florida don't.
7-11-2009 @ 10:07AM
matracia said...
well we all understnd the game of how it takes two -three weeks for the price to drop and the oil companys are screwing us to death along with congress,but right now here in fla, gas is 2.48 a gl but diesel is 2.65 hmmmm why iis diesel higher than gas when it dosnt take as much refineing diesel is more oil than gas but then again one must look at your local goverment due to level of unemployment and forclosers and lack of jobs people arent paying there taxes cause they have no job so the states are trying to tax everything in sight like ciggeretts ,more gas taxes,more insuranse hikes,so who takes it in the ass we do the poor bastards trying to feed our familys and have a decent life,if we as a country stop takeing care of every other countrys problems and focus right here we wouldnt have homeless,stop giveing the grants to students out of country and give the grants to our own kids,stop takeing care of the illeagels with free heath care and food stamps and send them back where they belong,we would be much better off what people are not seeing its all a chane of events and we as americans havent put our foot down to congress,you dont see them getting laid off or takeing pay cuts or looseing there little perks,and these are the same f(&*^% that are screwing us WAKE UP AMERICA!!!!!!!!!!!!!!!!!!
7-11-2009 @ 11:36AM
papa0491 said...
Here in Nashville Tn. south of town it's $2.24 north it's $2.45
why so much? Yes the stores get very little and the oil companies get the rest what's wrong with this picture. Hello Washington oil prices started this whole enocomy mess. We paid $4.00 so long people were buy gas not paying house notes or able to buy very much of anything.
7-11-2009 @ 3:08PM
Bill Sowka said...
WAIT A MINUTE PEOPLE!!!.....Listen to yourselves...Price of Barrel of oil goes up, (Next Day)Gasoline price goes up, price of oil goes down price of gas goes down(whenever)...Housing (Mortgage Payment)Delinquincies, NO PROBLEM...Banking Institutions Closing,NO PROBLEM....American Auto Manufacturers(Bankruptcy),NO PROBLEM,Our Government(President,Congress,Senate)putting us deeper in debt,NO PROBLEM....AMERICA WAKE UP !!! I read an article that Homeland Security was more concerned about INTERNAL TERRORISM and not terrorists from another country... forget about petitions,organized marches,Tea Parties, is AMERICA asking for a REVOLUTION, if not, WHAT'S NEXT????
7-11-2009 @ 5:07PM
Ron Broussard said...
http://www.youtube.com/watch?v=WKunHXtQYuo
Oil Prices are dramatically influenced due to Speculation - See this eye-opening "60 Minutes" Segment called "The Price of Oil." (Paste the above internet address in your browser) Even the Investment Banks indirectly OWN Oil Storage facilities!