Why are gas prices creeping up even though oil prices are at a 7 year low?

Does anybody know the reason for this?Why are gas prices creeping up even though oil prices are at a 7 year low?
Hi Parker,


If you buy into any of the propaganda that the media is spewing, then you agree with everyone's answers before me.


Prices of gas are creeping up because they can.


Nobody has enough power to stop the corruption.Why are gas prices creeping up even though oil prices are at a 7 year low?
in addition to the answers already given, there is another


factor contributing to this.


you may have read that russia had shut down gas supply for


many european countries for strategic reasons ( they were


demonstrating who is boss in europe, but of course they


invented another reason for it ) for weeks in midwinter. this made the demand grow


and as a logical consequence the price went up.
gas prices are set by how much oil they think we will have in the future. The more we use gas now the less they say we will have in the future so the higher the prices go. It's a very good way of screwing everyone because then when they are running out and they really would need to jack up the price they could jack it up even more.
I ask these questions too. But, I know why gas companies can do what they do. Oil continues to drop/sink but the price of gas goes up!!! what???





It only does makes sense when you put in supply and demand. Gas companies are cutting back on productions so they are slowly making the gas to match the demand. But the gas companies are making less than the demand itself, but so that the demand is higher than the supply and therefore we see how the gas prices can continue to rise.





Also, it makes more sense when you think who you're dealing with. The gas companies could start making more gas, but why would they? They are a business and what business doesn't want to make more money. If you run a business then you wouldn't want to make less money so that it would benefit your consumers more. Nope. You would want to make as much money as you can. So when gas prices go up gas companies smile!!!





I bet if oil drops to be 1 dollar gas companies would still charge us $3, $4, maybe even $5 dollars for gas. Then, people will say, WTF? and what I wrote again. lol
There's a very simple answer on this one.





The ';price of crude oil'; in the media is actually the price of one type, a premium grade called ';West Texas Intermediate'; or WTI. Your actual gasoline uses a different, (usually) cheaper grade. A freak market condition has made WTI temporarily cheaper than other types of crude.





http://www.chron.com/disp/story.mpl/chro鈥?/a>
You say creeping up...but I've seen a waiver between $1.99 to $1.79 over the past few months. I've also seen the composite price of crude waiver between $30-$40. Up and down, no real pattern, just following demand, refinery output, winter reformulation and such. These things happen when you run a business, look it up.





Seriously, what are you complaining about??? Be glad its not back up to $4.00 yet.
Oil prices are low because people are buying less gas. People are buying less gas because they are afraid of parting with their money in this economy--so they drive smaller cars that get better mileage.





Gas prices are creeping up and oil prices are going down because the refiners have decided to cut production.
oil prices were 30 dollars a few months age now over 40 so their up 25%..and for the 1000th time..crude price is only 1/2 the price....refinery's shutting for repairs,,[NO new ones in 40 years]..switching to Diesel from home heating oil...and supply and demand....opec just cut production several million bbls a day...
Nowadays people are to afraid. When the news says theirs a oil refinery strike every one thinks theirs gonna be a shortage, goes out and buy loads of petrol which increases the demand. So theirs less of it and the price goes up.
Before gas companies were not making a large enough profit so now they are going in to get that money they didn't get before.
The oil companies are ripping us off, so they can justify their huge salaries and stock options.
Greed by the oil companies.
The left would U to pay $5 per gal.