big oil still making a killing in the oil business. gas should be about $1.78 a gallon based on the newest oil prices. why are the oil companies still raping consumers?When will gas prices match the falling oil prices?
In part because we have demonstrated to them that we will lay back and take it.When will gas prices match the falling oil prices?
Gas companies buy gas on a futures market to hedge risk. Sometimes this helps them and sometimes this hurts them. A couple of months ago when they were buying barrels of oil at $147/barrel they thought they were hedging the risk of a barrel of oil from going up to $200. Now that oil has gone down we will see the benefit of price drops in the future months when the oil they bought was at the now under $100/barrel price. Also gas companies for the last couple of months were selling gas at a loss and will make up the money they lost.
I'm no oil company apologist, but if you look at the graphs, gasoline prices never rose in line with crude oil prices. In the time crude oil doubled in price, gasoline prices only rose 50% or so; expect the same thing to happen on the way down.
Oil companies continue to screw consumers because they're protected by their supposedly conservative cronies in government.
Not until the new president strikes an investigation against the oil companies. Bush will never do it because the majority of his stocks are in oil. Not only did he run this country into the ground...he became a millionaire while doing it.
If the new president is going to be a good president the first thing he will do is have the oil companies charged for fraud.
never. oil companies next to make billions for their salaries. cant do that without gas being really really high.
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