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Gas/ barrel drops Gas/gallon... not so much ?
Someone help me understand this please.
At the spike earlier this summer gas was 145.29
Today it closed at 59.33
That is a 59% decline in the price.
Why haven't we seen 59% decline at the pump? Now I know if a station buys gas at so much per barrel on Monday, their price/gallon on that same shipment should remain the same until they get their next load of gas in to prevent them from losing any money... That is common business sense.
HOWEVER, it seems these stations are having their cake and eating it too. When there is a scare on gas, prices can go up within 5 minutes... without receiving another shipment of fuel. But when gas goes down they don't take care of the consumer with that type of prompt price changing. It seems that in my local community prices are still higher than the percent of drop of the per barrel drop.
I am giving them a grace period, but should we be worried about this? Our stations are still more than they should be.
Help me out so I can understand this.
If we owned the stations I am sure we would do the same, but shouldn't the consumers be offered some protection?
