why the local gas prices don't react as quickly to drops in oil prices as they do to the increases
Case in point - when Hurricane Ike was reeking havoc in the Gulf, gas prices shot up amid assurances that the supply was there to meet the demand. This spike lead to shortages in our area because people panicked. Some places in the South are still feeling the shortages. Now that there seems to be regular deliveries in our area, prices are still well above what they should be given the current oil prices (<$90/barrel). I understand that the gas stations are passing on to the consumer the price they paid per gallon; however, they have received several deliveries since the drop in oil prices.
In the area that I live, there are 3 gas stations within a square mile of each other. The price per gallon of regular unleaded gas ranges from $3.52/gallon to $3.89/gallon. The highest one has come down only $.40 in the last 2 weeks, whereas the other two have dropped twice that amount.
It's ridiculous.
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2 comments:
I'm wondering the same thing. Gas this weekend in Gulf Shores was 2.99...here it is 3.49. What gives?
Dunno - but I'm tired of it.
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