I predict gas will be $3(nyc) by summer, national avg $2.80

[EasyDriver]

Why is it that gas prices rise instantly when crude goes up....but go down slowly when they drop? Probably has something to do with why the gas companies have had record profits in the last few years!!!!

[JBougie]

Originally Posted by EasyDriver

Why is it that gas prices rise instantly when crude goes up....but go down slowly when they drop? Probably has something to do with why the gas companies have had record profits in the last few years!!!!

Yeah .... it's all the oil companies fault

[GeneW]

Originally Posted by EasyDriver

Why is it that gas prices rise instantly when crude goes up....but go down slowly when they drop? Probably has something to do with why the gas companies have had record profits in the last few years!!!!

Most of the oil companies record profits were from well receipts in the US when oil was over $140 a barrel. A lot of companies dumped their retail operations because the profits were greater in distribution and because environmental remediation is an ass pain in the US. Especially bond requirements and destructive tank testing, at least in some states.

I don't know why prices "rise instantly". Considering the slim profit margins on gasoline sales - it's pennies per gallon for gas station owners - maybe these folks are being cagey with their more expensive gasoline in the tank?

Of course if you want to bring back price controls and impose "price gouging" regulations, well, enjoy your wait in the gas lines. Heh, heh, heh.

Gene