Oil prices fell below $54 a barrel: Why are gas prices still up?

angel

When oil fell to below $60 a barrel, gas prices were lower. Why did they go up?
_________________
"Darkness cannot drive out darkness. Only light can do that. Hate cannot drive out hate. Only love can do that." ~~Martin Luther King Jr.~~

ocho · Retired Number Joined: 24 May 2005 Posts: 53856

because stern and the refs want oil prices up so wade can win another title.

it's almost too easy...
_________________
14-5-3-12

chef · Posted: Thu Jan 11, 2007 11:49 am Post subject:

Refinery problems cause the price of oil to go up.

angel · Posted: Thu Jan 11, 2007 11:53 am Post subject:

I think the oil companies are gouging the public.
_________________
"Darkness cannot drive out darkness. Only light can do that. Hate cannot drive out hate. Only love can do that." ~~Martin Luther King Jr.~~

uberzev · Posted: Thu Jan 11, 2007 12:01 pm Post subject:

20,000 · Posted: Thu Jan 11, 2007 12:08 pm Post subject:

gas prices are where they will remain for a long time. The oil well owners, exporters, and oil companies had HUGE years selling at this current price. Why would they go back down when they know we all need it and we won't be cutting our oil consumption any time soon. Besides, it is winter, peak time for using oil to heat houses, why lower prices now?

The only way oil prices will ever go down are:

1 - complete change of heart and good will to all people from those who profit from high oil prices, even for those who can barely afford any oil for heat (HA!)

2 - Finding a cheap, alternative energy source that is readily available.

3 - The threat that alternative energy is near. Once this happens, oil prices drop, everyone will forget the need for alternative energy (remember the 1970s oil crisis?), and go back to using the good old reliable and available oil.

We really do need to develop alternative energy sources. Not only because it is good for the environment, but it is also good for business, and overall good for this country. The less money we pump into those crazy countries in the mideast, the better off we will be. More money stays here, less chances money goes out to terrorists. Not only that, but we need to keep US money here in the US so foreign investors don't wind up owning the US.

OK, I am done with my rant now
_________________
Courage doesn't always roar.
Sometimes courage is the quiet voice at the end of the day saying...'I will try again tomorrow.'

lakerzpimp08 · Posted: Thu Jan 11, 2007 12:38 pm Post subject:

a lot of factors contribute to the price of gas. of course the price per barrel is a big factor but who have to account for other things as well. such as transpotation cost.[i live in texas, so shipping cost are less since most imports come through the gulf.] even if gas is less than $54 a barrel it really doesnt matter because demand for gas remains very high and oil refineries cannot handle the demand. usually they never run at full capactiy becuase its nearly impossible to due to mechanical errors that arise.[they usually run close to 93%-97%] one of the biggest factors that people tend to ignore is that the last refinery built in the u.s was in 1976!!! so we are very limited in our ability to turn oil into gasoline and so we have to rely on imported gasoline. we cant control the price we pay for that imported gasoline beause we really dont have a choice because we need it. theirs tons more factors but i dont wanna bore u guys
_________________
pjax coming back - "Crazy theories one, regular theories a billion."

"If we can hit that bull's-eye, the rest of the dominoes will fall like a house of cards... Checkmate!"

I'm the man with no name... Zapp Brannigan.

lakerzpimp08 · Posted: Thu Jan 11, 2007 12:44 pm Post subject:

i almost forgot to mention that the price per barrell u see is for a future contract. currently the price today is close to $51, but thats for a february contract. so prices will go down but its gonna take a while to see the difference at the pump
_________________
pjax coming back - "Crazy theories one, regular theories a billion."

"If we can hit that bull's-eye, the rest of the dominoes will fall like a house of cards... Checkmate!"

I'm the man with no name... Zapp Brannigan.

LuxuryBrown · Posted: Thu Jan 11, 2007 12:49 pm Post subject:

LOL! The ONLY factor that contributes to high gas prices is that THE WORLD IS DEPENDENT ON IT!

...Simple as that. The moment we wise-up and stop depending on gas is the exact moment gas prices will plummet and stay down. Until then, they will continue to feed us the bullcrap of the ole "Refinery Problems"..."Winter Grade of Gas" ..."Low Emission Grade of Gas" excuses as to why it's high. The ONLY reason = HIGH DEMAND.

_________________

angel · Posted: Fri Jan 12, 2007 1:55 pm Post subject:

The oil price continued to drop down close to $51, but rebounded to $52. It's funny how the gas prices respond quickly to oil price increases, but they don't seem to go down.
_________________
"Darkness cannot drive out darkness. Only light can do that. Hate cannot drive out hate. Only love can do that." ~~Martin Luther King Jr.~~

Mike@LG · Posted: Fri Jan 12, 2007 2:18 pm Post subject:

Winter grade gasoline. Change in chemical formula to better respond to lower average temperatures.
_________________
Resident Car Nut.

https://lakersdraft.substack.com/

I am not an economic advisor nor do I advise economic strategies or plans.

Tony Almeida · Retired Joined: 05 Jan 2006 Posts: 12072

hig · Posted: Fri Jan 12, 2007 6:29 pm Post subject:

The only reason the gas prices were so low in Sept./Oct....it was before the election.

"Gee...see how low the gas prices are with the republicans in control?"

Notice how they went right up after Nov. 4??
_________________
"Kobe, Kobe, Kobe and some more Kobe, with a sprinkling of Kobe and a huge fat scoop of double Kobe with Kobe sprinkles and Kobe sauce"
----CL member bumrusherer after Kobe's 52 pt. game vs. Dallas 03/02/08

Money$hot! · Star Player Joined: 18 Dec 2002 Posts: 5911

hig · Posted: Sat Jan 13, 2007 12:10 am Post subject:

I'll take that. It's $2.53-2.67 up here in Sacto.
_________________
"Kobe, Kobe, Kobe and some more Kobe, with a sprinkling of Kobe and a huge fat scoop of double Kobe with Kobe sprinkles and Kobe sauce"
----CL member bumrusherer after Kobe's 52 pt. game vs. Dallas 03/02/08

Lakers_2000 · Posted: Sat Jan 13, 2007 12:46 pm Post subject:

Gas prices have gone down in my area.

angrypuppy · Retired Number Joined: 13 Apr 2001 Posts: 32762

Oligopoly pricing power.