Given that demand for oil has dropped, as has the price per barrel why aren't we seeing it at the pumps?

http://news.bbc.co.uk/2/hi/business/7816鈥?/a>





still costing a fortune to fill up, not as much as it did a while back, is it all just down to profiteering and making up the losses inflicted to different industries.


Views tvm.Given that demand for oil has dropped, as has the price per barrel why aren't we seeing it at the pumps?
Production of oil also has been scaled back in proportion to demand. The arab nations are not producing the same number of barrels a day as they were when prices were high. Supply and demand are what's dictating the cost before taxes. Those oil barron's won't make any money if they have too much product out there and we have cut back on driving due to the economy. Get it while it's good.Given that demand for oil has dropped, as has the price per barrel why aren't we seeing it at the pumps?
Generally, the market dictates future changes to economic prices. In other words, there will not be an immediate economical change when the market fluctuates the way it has these last few months.





When oil barrels were peaking, gas in the USA was still under $4.00 until it started to fall, when prices rose up to $5.40 for a gallon for a short period of time. In September, the markets began to fall and it wasn't until the middle of October when gas prices at the pump fell to now four-year lows at around $1.70 a gallon.
they've knocked it down vitrtuly 30p with us. it's the cheapest in soooooo many years. i never thought it was going to come down when it went over 拢1 p/l. so i'm happy enough as i thought the whole decline in being able to use cars was on the verge of happening before.