Gas prices

[Jesseda]

So oil is selling a lot less per barrell then it was a couple months ago, why is the gas prices still so high? its not like the price dropped suddenly over night its been on this trend now for awhile so why isnt a gallon of gas dropping with the percentage oil prices have dropped. I dont understand a couple years ago when oil prices was at 85.00 a barrell, gas prices in this state was $2.50. so whats the deal, has something changed on the gallon of gas pricing?

[Larry OKC]

Although it is great news that the lowest price in the Metro is below $3 now (NW 63rd & Meridian), you are correct about it being much higher than the price of oil would indicate. If you go to GasBuddy.com, they have charts going back up to 8 years where you can overlay the price of oil and corresponding price of gas. Historically, the price of gas in Oklahoma should be around the $2.50 mark. here in OKC it should be even cheaper than the state average. Factor in the "glut" of oil at Cushing. The fact that we pump the oil here, refine it here, transport it in from everywhere else, and it should probably be about $1.50/gal

[BBatesokc]

I filled up today for 2:89 on the south side.

[Larry OKC]

Excellent, where at..the cheapest posted online is $2.97 at the 7-11 at SW 44th & Blackwelder?

[soonerliberal]

Here's an article that attempts to explain it:

http://oil-price.net/en/articles/why...price-down.php

[Larry OKC]

LOL...love the attempts to explain it. Over the years some "expert(s)" have given seemingly contradictory reasons for gas being high

High demand
Low demand
High supply
Low supply
Weak dollar
Strong dollar
Stock market down
Stock market up
Not enough infrastucture
Too much infrastructure (pipeline glut in Cushing)
We get our oil from Chicago instead of Houston (why do we get it from either place, we pump it here, refine it here, sell it here)
Seasonal switch of fuel formulation (this is a constant)
etc etc etc

[Snowman]

If gas was simply keeping with inflation over the last 15 years it would be around half what it is now.