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pamomof4 asked in Social ScienceEconomics · 1 decade ago

When did we start thinking that $2.50-$2.80 for a gallon of gas is a bargain??

"We expect to see prices flatten around where they are now," says Douglas MacIntyre, senior oil analyst for the federal Energy Information Administration, part of the DOE. "More refinery outages and higher crude prices could push it to $3, but we're not looking at $4. More likely the summer average will be $2.50 to $2.80."

Record profits for major oil companies...if the price of oil is going up why are the profits record breaking???

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  • Anonymous
    1 decade ago
    Favorite Answer

    We started thinking 2.50 to 2.80 is a bargain when the price went over $3.

    The profits are record breaking because they're raping the consumers. Of course they'll claim that their costs have gone up, but since when were oil companies good, upstanding members of society who tell the truth?

  • wizjp
    Lv 7
    1 decade ago

    Supply and demand. The more of an item you sell the more you will make. Profit margin can remain the same, even if you include the extra .50 you are paying for summer blend gas to help save the planet.

  • 1 decade ago

    well now the National average is higher than the summer averages.

    Here in North Carolina it is the national average price for gas. We are seeing $2.88 and $2.87 here.

    I am not sure when it will go down or what will cause it to drop.

  • 1 decade ago

    i agree!! I'm spending about 50 dollars per visit to the pump! and that just regular unleaded gas

    But the sad truth is that I love my car, and need it to get around

    however i do have a motor scooter too ! in nice weather it's a cost saver

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  • Anonymous
    1 decade ago

    I remember when I was in highschool gas was 99 cent..and at the most 1.05..that was in 2001-2002

  • Anonymous
    1 decade ago

    I need gas for my truck..where

    can I get it for only $2.50

    I'm in California..it's $3.60

    We are soooo getting ripped.

    Guess I should look on the

    bright side, my road milage

    average, is lower now.

    With these prices, I can't

    afford to cross the street

  • 1 decade ago

    $2.50 to $2.80??? I just filled up this morning at $3.39. I will take $2.80 anyday, now.

  • 1 decade ago

    we're being "frog-boiled." if you throw a frog into boiling water itll jump right out, but if you put it in cool water then slowly turn up the heat.... frog soup.

  • Anonymous
    1 decade ago

    when god created global warming

  • Anonymous
    1 decade ago

    We didn't!

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