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Replies to post #14413 on Tsafi

Replies to #14413 on Tsafi

kevin252

09/04/08 11:20 PM

#14414 RE: popeyej #14413

Hey Popeye, you admitted to Langlui recently that you're not a big expert on oil, but maybe you can answer this question I have. As you know, oil has dropped big-time lately, going from around $148 down to approx. $108 now, about a $40 drop so far. Well my question then is, why haven't the gas pump prices dropped that much? At their peak they were at about $3.99 out here, and now they average about $3.59, a paltry $.40 drop. Shouldn't that have been more, considering how much oil has dropped? They just said that oil hit a 5-month low today also. Ironically the gas prices were at $3.49 about a month ago over here, when oil was still much higher than it is today. Don't know if you know the answer to this, but in summary I guess the whole thing just confuses me.