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Why is oil down 35% but gas is barely down 20%? ?
Gas prices at their high were around $4.30 and Oil was about 150.00 bbl. Now oil is at 93.00 a bbl and gas is still around $3.50 when it should be more like $2.80 if it were commensurate with oils drop. What gives?
4 Answers
- Anonymous1 decade agoFavorite Answer
someone is pocketing money somewhere..
- Anonymous1 decade ago
The price of gas will never go below $3 not matter how much oil cost.
- 1 decade ago
Gasoline is made from oil. It is not oil. There is still a number of other factors that contribute to cost, such as; cracking/distillation, processing/refining, additives, shipping, labor, overhead, and so forth. Thus, the gas price is only partially dependant on the barrel price of oil.