Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Drone
Lv 7
Drone asked in Politics & GovernmentGovernment · 1 decade ago

when oil price up everything up..but when oil price down nothing goes down..?

8 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    Gas prices have plummeted...

    But you're unlikely to see retailers take the fuel surcharges out of foodstuffs.

  • 1 decade ago

    Oil is only the raw material for gasoline and not all of it gets converted into gasoline. The cost of refining and transporting it hasn't gone down at all and some companies are locked into "futures" supply contracts that will take them awhile to get out of. The price of gas is plummeting in my area because of competition and was $2.09/gal yesterday. There are several small towns in the area where Wal-Mart sets the price for just about everything, including gasoline. If their competitors don't match the price, they go out of business. It takes awhile for those changes to work their way through the market price system.

  • Anonymous
    1 decade ago

    Once the prices on everything else go up, the continued high prices on everything else seem to be profit, until market competition drives it back down again. It shouldn't take any longer than 3 or 4 months for this to happen. Especially with giants like Wamart slashing prices at every avail.

  • 1 decade ago

    the reasons in which the officials provides to the public are things like there are many other factors affecting the price increase other than the actual hike in oil price itself. Factors like wages increase, electricity hikes or just plain stupid reasons tt would allow them NOT to decrease the pricing of the goods.

    In short, it all goes down to profits profits and more profits in which the companies have no lack of.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    One of the problems is that both the State and Federal governments tacked on a total of $.40 a gallon tax just this year

  • 1 decade ago

    i know sucks doesn't it

    in 5 min the CNN the headline will be "Right wing farmers responsible for higher food costs"

  • Anonymous
    1 decade ago

    Its called capitalism baby, get used to it.

  • Anonymous
    1 decade ago

    they will have to bring it down,no one is in the stores..

Still have questions? Get your answers by asking now.