price per barrel Vs. Price per gallon

[Traveler]

Last time oil prices was $55.00 per barrel, the prices at the pump was under $1.00. per gallon.  So why today with the price per barrel back at $55.00 and still dropping is the price per gallon at $2.50 at the pump?

[Skuzzy]

There is virtually no way this does not end up being a political discussion.  I can lock it now, or ban/suspend people for taking it down that path.

[MrKrabs]

Just because they don't see it staying as low as 55 a barrel for an extended period of time. Fuel prices will never drop to 90's prices simply because of general inflation. It would like be saying there's suddenly a billion more dairy cows for just this year or two and expecting milk prices to halve.

Just do research on US shale and how OPEC is driving down the price just to undercut. "Not political, just fact"

[Nefarious]

Inflation.

[Traveler]

See Rule #4

[Traveler]

Inflation.

Even adjusted for inflation it would put the price at the pump at about 1.30, not 2.50. 

[Nefarious]

Even adjusted for inflation it would put the price at the pump at about 1.30, not 2.50. 

Well, you got those tax thingies too.

[NatCigg]

Did anyone consider gas tax and transport to a limited amount of refineries as a reason.  

[zack1234]

They dont store all that oil in barrells

[Copprhed]

Part is the price already paid for the oil that has been refined. The gas price lags a bit, because of processing time

[SPKmes]

Part is the price already paid for the oil that has been refined. The gas price lags a bit, because of processing time

In NZ this used to be a thing.... but as of the last year or so... it seemed as though they just changed as the price fluctuated.... everyday there was a different pump price here... still is....
not only that the variances can be quite large... i have a mobil which is constantly 5-8c cheaper than most other fuel stations in the Auckland region. Plus add to that the fuel vouchers available these days (over here all super markets offer a constant 6c off the pump price and on certain amounts spent and weeks you have the opportunity to get up to 30c (has been the highest).
Gassies just seem to pick a random number over here to put on the pump.... honestly it is crazy times....

as of today, on the way to the office I pass 5 service stations .... prices.... 173.9c.... 175.9c.... 184.9c.....176.9c......191.9c .... There is no rhyme or reason to the pump prices here in NZ (PS this is per litre)

[wpeters]

In NZ this used to be a thing.... but as of the last year or so... it seemed as though they just changed as the price fluctuated.... everyday there was a different pump price here... still is....
not only that the variances can be quite large... i have a mobil which is constantly 5-8c cheaper than most other fuel stations in the Auckland region. Plus add to that the fuel vouchers available these days (over here all super markets offer a constant 6c off the pump price and on certain amounts spent and weeks you have the opportunity to get up to 30c (has been the highest).
Gassies just seem to pick a random number over here to put on the pump.... honestly it is crazy times....

as of today, on the way to the office I pass 5 service stations .... prices.... 173.9c.... 175.9c.... 184.9c.....176.9c......191.9c .... There is no rhyme or reason to the pump prices here in NZ (PS this is per litre)

Price for me is $2.02

[SPKmes]

Price for me is $2.02

these prices I have put up today have only been around for the last couple of weeks... we were at 214.9-220.9c for most of the year...this is 91 also... the 96 is always about 10c more and the 98 usually about 20c and the 96/98 prices don't change at most stations when the prices of 91 fluctuate...they use it as a drawcard....I had to learn which stations altered all prices.... which my local one does....

[Mongoose]

There is virtually no way this does not end up being a political discussion.  I can lock it now, or ban/suspend people for taking it down that path.

Its a discussion on oil and gas prices. If you think that can only be political, that's your problem.

He is not saying that he thinks it can only be political.  He is saying that historically this type of discussion does become political, and degrades to the point where it gets locked.  So let's see if we can keep it from going that direction.

[Mongoose]

While the price per barrel of oil is coming down, the prices of other parts of the process are still up.  Logically, you would think that all the other costs would come down too, eventually. And they might.  But then you have business people thinking, "Hmm.  Cost are down, profits are up.  This is good."