Aaagh, It drives me nuts!!!!
A couple weeks ago we were paying in my area $3.89 a gallon. The SemGroup bankruptcy, congress looking at speculators, Changes in demand all seem to take a hit on the prices.
Over the past two weeks the price per barrel dropped about $27. A barrel produces about 30 gallons of gas, so that comes in about $.90 a gallon. During time period the price of gas dropped $.40 a gallon.
The other day the market rallied and price per barrel jumped $4.58 or about $.15 per gallon but the Cost of gas took a one day jump of $.20 form $3.49 to $3.69 The increase should have brought the price to about $3.64, Fairly close to what it went up to.
So if the cost per barrel is pretty close to what the increase in gas prices are why don't the gas prices drop the same way? Even with the spike the other day prices would be at about $3.15 if they followed the same downward pricing structering as used for upward pricing.
Anyways it will only drive me nuts, dribble down price drops and spike increases.
