Crude oil/ Gas prices

[Fruit Monkey]

Does anyone understand why that as crude oil goes up on the stock market the price at the pump jumps up at the same time. But when they go down we never see them (gas prices) fall as fast as they go up?

Case in point, Im listening to CNN and hearing oil hit 100 a barrel a few weeks ago. As im fucking driving by Im watchin HABIB change the fucking price to 3.29 a gallon up from 3.25 why ?

Oil is now down to 88.00 or less a barrel and yet the price at the pump is 3.21- 3.17 on long island?

I understand it's futures and technically its the price for crude oil per barrel in LIKE MARCH. so in march we should see gas at around 2.80 a gallon on LI?


What a mother fuckin scam man!

[BeerBelly]

What I wonder is why is diesel higher than gas now, diesel has always been half the price of gasoline. It is shit fuel , bottom of the barrel almost sludge.

[d0uche_n0zzle]

The refinery's are at capacity, thus then, the ass ****** at the pump.

Diesel is more "expensive" because of taxes to maintain the highways.

[domelogic]

i have a friend who owns gas stations and a gas distributorship. i asked him this same question and he told me that the price of gas will move with the futures(up only) so that we pay for their future shipments of gas. in other words the stations will only buy gas once the consumer has covered the price for them. its a no lose situation ever for the owners of gas stations. that is also why they take forever to bring down the price as they figure lets make more of a profit now while we can.

your right its a scam because the only gas the stations pay for out of pocket is the first fill of their tanks. after that they use our money to buy gas. this became a problem here where i live as some of the stations got together and decided to not drop the price to see how long they could do that regardless of the crude going down.

hopefully i explained that so you understand

[Voss's Tumor]

There's a thread where this is explained in painful detail by a few guys on here who actually work in the gas business.

Use the search function, I don't care enough to sift through and find it.