Not Logged In [Log In] [Sign Up] [Points Leaders] 
  3:01 AM
Featured Sponsor
Save 5% on gas
Get a 5% rebate on gas purchases with the Discover Card*
Click here for more info

Search for gas prices Advanced search
GasBuddy News Article


Gas prices not falling as fast as oil's drop
Friday, September 05, 2008
The Seattle Times -- WASHINGTON — Oil prices have fallen more than 26 percent from their July 11 record high of $147.27 a barrel, and all evidence points to further declines.

The price Americans pay at the gas pump has fallen a more modest 12 percent at Thursday's national average of $3.67 a gallon. That's led some consumers to wonder if they're being gouged.

In the Seattle-Bellevue-Everett area, the average price Thursday for regular was $3.865, compared with $2.845 a year ago.

Here are some reasons why the price of gasoline, while dropping, isn't moving in lock-step with falling oil prices.


Visit The Seattle Times for full article

Category: Daily News Article Discussions > Topics Add to favorite topics  Post New Topic
Rate this topic:  Low   1 - 2 - 3 - 4 - 5  High  Avg rating: 2.0  (1 votes)
Author Topic: Gas prices not falling as fast as oil's drop Post a ReplyBack to Topics
JT
Moderator

Message Posted: 9/5/2008 10:50:25 AM  Ignore JT Report Abuse
Friday, September 05, 2008
The Seattle Times -- WASHINGTON — Oil prices have fallen more than 26 percent from their July 11 record high of $147.27 a barrel, and all evidence points to further declines.

The price Americans pay at the gas pump has fallen a more modest 12 percent at Thursday's national average of $3.67 a gallon. That's led some consumers to wonder if they're being gouged.

In the Seattle-Bellevue-Everett area, the average price Thursday for regular was $3.865, compared with $2.845 a year ago.

Here are some reasons why the price of gasoline, while dropping, isn't moving in lock-step with falling oil prices.

Visit The Seattle Times for full article
REPLIES (newest first)
magnumCA
Champion Author
Los Angeles

Posts:1,589
Points:303,025
Joined:Jan 2008
Message Posted: 9/7/2008 3:23:35 PM  Ignore magnumCA Report Abuse
Never does
jb47
All-Star Author
Shreveport

Posts:762
Points:333,675
Joined:Aug 2007
Message Posted: 9/7/2008 12:27:36 PM  Ignore jb47 Report Abuse
Gas prices only stay in step with oil prices when it is on the way up. When oil drops then we just don't understand the relationship between the two prices.
GasholeMI
Champion Author
Lansing

Posts:1,961
Points:158,415
Joined:Jul 2008
Message Posted: 9/7/2008 11:45:12 AM  Ignore GasholeMI Report Abuse
BluestarAZ, it is not just the CEO's of oil companies. It is the higher up politicians with their high salaries, vacations, and COLA's many linked to inflation. It is many of the CEO's of all large companies who get fat salaries, stock options and huge retirements (even if they are fired). It is even the teaching profession where it is often top heavy with superintendents. A recent article on the Detroit area said one superintendent got the equivelent of over $200,000. Would you want to vote to increase the school millage in that district?
Rageagainsttm
Champion Author
Tampa

Posts:2,139
Points:473,880
Joined:Jul 2007
Message Posted: 9/7/2008 10:31:14 AM  Ignore Rageagainsttm Report Abuse
kalamazoo is a funny word dude
Jacks45
Champion Author
Michigan

Posts:2,397
Points:482,880
Joined:Jul 2007
Message Posted: 9/7/2008 10:28:34 AM  Ignore Jacks45 Report Abuse
Up in Kalamzoo Mi since midnight last night.
BluestarAZ
Sophomore Author
Arizona

Posts:124
Points:75,460
Joined:May 2008
Message Posted: 9/7/2008 10:27:48 AM  Ignore BluestarAZ Report Abuse
Supposedly the oil companies only make an 8% profit, but when exiting CEOs get a huge severance package, something is wrong somewhere.
wizzard1222
All-Star Author
St. Louis

Posts:643
Points:749,550
Joined:Mar 2006
Message Posted: 9/7/2008 10:26:57 AM  Ignore wizzard1222 Report Abuse
Up 20 cents in one pre-storm DAY and down 2 cents post storm WEEK.
dougrusty
Veteran Author
Illinois

Posts:472
Points:132,270
Joined:Mar 2008
Message Posted: 9/7/2008 10:26:14 AM  Ignore dougrusty Report Abuse
Old....
PioneerUrban
All-Star Author
West Virginia

Posts:875
Points:173,545
Joined:Jun 2008
Message Posted: 9/7/2008 10:24:11 AM  Ignore PioneerUrban Report Abuse
Old
REVLAW
Champion Author
San Antonio

Posts:2,333
Points:440,585
Joined:Jul 2007
Message Posted: 9/7/2008 10:21:07 AM  Ignore REVLAW Report Abuse
Old news. Never does, profit is at stake.
Ken33AR
Rookie Author
Arkansas

Posts:1
Points:470
Joined:Sep 2008
Message Posted: 9/7/2008 10:16:26 AM  Ignore Ken33AR Report Abuse
Uh huh. Didn't go as high as they should have when oil was up? And Still posted record profits? Somebody needs to get a grip.
Somis1
Champion Author
Ventura

Posts:5,149
Points:1,102,750
Joined:Jul 2005
Message Posted: 9/7/2008 10:13:23 AM  Ignore Somis1 Report Abuse
Surprise!
EXTREMESNOW
Champion Author
Oregon

Posts:1,419
Points:355,160
Joined:Jul 2006
Message Posted: 9/7/2008 10:13:00 AM  Ignore EXTREMESNOW Report Abuse
YOSEMITE SAM ROCKS!
jrnascar
Veteran Author
Dayton

Posts:276
Points:177,125
Joined:Jul 2006
Message Posted: 9/7/2008 10:12:55 AM  Ignore jrnascar Report Abuse
Just another news article defending why the price of gas isn't falling like it should be.
coke_kid
Veteran Author
Chicago

Posts:284
Points:109,385
Joined:Nov 2005
Message Posted: 9/7/2008 10:12:02 AM  Ignore coke_kid Report Abuse
I DONT TRUST OUR GOVERNMENT AND I DONT TRUST OIL COMPANYS AND I DONT TRUST GAS STATION OWNERS AND I DONT TRUST THIS WEB SITE!
hank1326
All-Star Author
Los Angeles

Posts:754
Points:172,280
Joined:Jun 2008
Message Posted: 9/7/2008 10:10:16 AM  Ignore hank1326 Report Abuse
Ditto to flyfast. Keep on reducing our driving needs and buying gas only at stations with responsive prices.
Terrapinone
All-Star Author
Baltimore

Posts:790
Points:591,565
Joined:May 2004
Message Posted: 9/7/2008 10:08:02 AM  Ignore Terrapinone Report Abuse
This should be no surprise
PhilMay
Champion Author
Detroit

Posts:1,339
Points:218,245
Joined:May 2008
Message Posted: 9/7/2008 10:06:51 AM  Ignore PhilMay Report Abuse
Toppers
Champion Author
Atlanta

Posts:1,112
Points:903,425
Joined:Mar 2005
Message Posted: 9/7/2008 10:05:49 AM  Ignore Toppers Report Abuse
Duh!
sta135
Champion Author
New York

Posts:2,700
Points:182,760
Joined:Jul 2008
Message Posted: 9/7/2008 10:02:47 AM  Ignore sta135 Report Abuse
Suddenly we're all "experts" on the oil business. :)
HDUltra03
Champion Author
Oregon

Posts:7,135
Points:1,114,975
Joined:Nov 2005
Message Posted: 9/7/2008 10:02:47 AM  Ignore HDUltra03 Report Abuse
Way to go MR. Obvious!
Pseudorious
All-Star Author
Philadelphia

Posts:561
Points:239,765
Joined:Sep 2005
Message Posted: 9/7/2008 10:01:09 AM  Ignore Pseudorious Report Abuse
Since we never paid $5 for gas, I'm happy the market is recouping some of the losses it took on my behalf. Other posters seem largely unaware that the oil price spike was never absorbed by the market. They can check the graphs right here.
smokinjoe999
Rookie Author
Ontario

Posts:55
Points:99,250
Joined:Sep 2005
Message Posted: 9/7/2008 9:59:48 AM  Ignore smokinjoe999 Report Abuse
What a surprise
rvnvet70
Champion Author
Michigan

Posts:1,960
Points:1,032,785
Joined:Sep 2005
Message Posted: 9/7/2008 9:59:44 AM  Ignore rvnvet70 Report Abuse
We need lower prices, period.
flyfast
Champion Author
Kansas City

Posts:1,441
Points:282,780
Joined:Jan 2008
Message Posted: 9/7/2008 9:59:16 AM  Ignore flyfast Report Abuse
give it time
lukelewis
Sophomore Author
Kentucky

Posts:143
Points:307,780
Joined:Jun 2006
Message Posted: 9/7/2008 9:56:07 AM  Ignore lukelewis Report Abuse
They're all crooks
KCTraveler
Champion Author
Kansas City

Posts:1,210
Points:101,830
Joined:Aug 2008
Message Posted: 9/7/2008 9:54:28 AM  Ignore KCTraveler Report Abuse
This is not a news flash.
mhewer
All-Star Author
Detroit

Posts:515
Points:191,870
Joined:Sep 2007
Message Posted: 9/7/2008 9:53:50 AM  Ignore mhewer Report Abuse
surprise, surprise.
radicale
All-Star Author
Calgary

Posts:745
Points:195,825
Joined:Aug 2006
Message Posted: 9/7/2008 9:53:35 AM  Ignore radicale Report Abuse
No kidding. Someone is making $ off of us.
Gassie1
Champion Author
Akron

Posts:4,642
Points:610,390
Joined:Apr 2007
Message Posted: 9/7/2008 9:51:32 AM  Ignore Gassie1 Report Abuse
I agree
rgj316
All-Star Author
Rochester

Posts:819
Points:135,945
Joined:Jul 2008
Message Posted: 9/7/2008 9:48:56 AM  Ignore rgj316 Report Abuse
just goes to show you how much the exec's at big oil companies are ripping us off
GASHAMMERS
Veteran Author
Kentucky

Posts:250
Points:299,740
Joined:May 2007
Message Posted: 9/7/2008 9:45:44 AM  Ignore GASHAMMERS Report Abuse
gas needs to follow drop of oil!
Rick01
All-Star Author
Utah

Posts:939
Points:822,550
Joined:Sep 2005
Message Posted: 9/7/2008 9:42:18 AM  Ignore Rick01 Report Abuse
nothing but greed
TRAIN RIDER
Champion Author
San Bernardino

Posts:1,375
Points:1,214,885
Joined:Oct 2004
Message Posted: 9/7/2008 9:40:14 AM  Ignore TRAIN RIDER Report Abuse
OH WELL SOME ONE NEEDS TO SHOW THE PEOPLE HOW TO BE GREEDY. HOW ELSE WOULD WE KNOW WHAT GREED WAS?
qaqcsup
Champion Author
Michigan

Posts:3,666
Points:177,185
Joined:Jun 2008
Message Posted: 9/7/2008 9:35:12 AM  Ignore qaqcsup Report Abuse
Maybe Yosemite Sam should make an appearance at some of the gas station HQ's for some inspirational visits. lol
cudatim
All-Star Author
San Antonio

Posts:837
Points:400,875
Joined:Jan 2007
Message Posted: 9/7/2008 9:31:36 AM  Ignore cudatim Report Abuse
It moves up fast with news of increase in price of oil to pay for future deliveries but then when oil drops you have to pay for the current cost of the gas in the tanks. Looks like you pay for it twice..
smama
Sophomore Author
Illinois

Posts:160
Points:55,410
Joined:Jun 2008
Message Posted: 9/7/2008 9:30:17 AM  Ignore smama Report Abuse
I think I posted on this a couple of days ago.
s6sputnik
Champion Author
Austin

Posts:2,422
Points:486,605
Joined:Jun 2007
Message Posted: 9/7/2008 9:29:19 AM  Ignore s6sputnik Report Abuse
Never falls as fast as it goes up!
Gassipper30mpg
All-Star Author
Rhode Island

Posts:567
Points:146,610
Joined:Jul 2008
Message Posted: 9/7/2008 9:27:28 AM  Ignore Gassipper30mpg Report Abuse
Keep posting. Use less.
zivkam
Veteran Author
Dallas

Posts:495
Points:213,665
Joined:Dec 2007
Message Posted: 9/7/2008 9:27:08 AM  Ignore zivkam Report Abuse
Old news from Friday
Razzincain
All-Star Author
Kansas

Posts:982
Points:572,685
Joined:Aug 2005
Message Posted: 9/7/2008 9:27:04 AM  Ignore Razzincain Report Abuse
More money for them
eddyp94
Champion Author
Ontario

Posts:1,140
Points:271,855
Joined:Mar 2008
Message Posted: 9/7/2008 9:25:22 AM  Ignore eddyp94 Report Abuse
oil goes down, food prices goes up...
CSharpGuy
Champion Author
Colorado Springs

Posts:1,520
Points:325,155
Joined:Jan 2008
Message Posted: 9/7/2008 9:19:28 AM  Ignore CSharpGuy Report Abuse
It's the way of things. Fast to rise, slow to drop.
Price_Patrol
Champion Author
Cincinnati

Posts:1,423
Points:510,395
Joined:Jun 2007
Message Posted: 9/7/2008 9:19:11 AM  Ignore Price_Patrol Report Abuse
This has been going on for sometime.
weenerdog
Champion Author
Detroit

Posts:1,903
Points:346,885
Joined:Jan 2008
Message Posted: 9/7/2008 9:18:19 AM  Ignore weenerdog Report Abuse
And gas has gone up five cents in the past three days
dreamweaver7050
All-Star Author
Louisiana

Posts:918
Points:523,965
Joined:Sep 2006
Message Posted: 9/7/2008 9:16:10 AM  Ignore dreamweaver7050 Report Abuse
old
Laser917
Champion Author
Minnesota

Posts:2,624
Points:843,605
Joined:Oct 2005
Message Posted: 9/7/2008 9:13:47 AM  Ignore Laser917 Report Abuse
Where is our attorney general at anyway. Let's give him something to do.
matman01
Champion Author
Detroit

Posts:2,780
Points:436,280
Joined:May 2007
Message Posted: 9/7/2008 9:12:57 AM  Ignore matman01 Report Abuse
I read this yesterday
jmuse
Champion Author
Long Island

Posts:1,155
Points:234,235
Joined:May 2008
Message Posted: 9/7/2008 9:12:52 AM  Ignore jmuse Report Abuse
The oil companies wouldn't gouge us, would they?
reb4
Champion Author
Chicago

Posts:2,195
Points:243,885
Joined:Sep 2004
Message Posted: 9/7/2008 9:12:23 AM  Ignore reb4 Report Abuse
Wow, I bet if their is an investigation in price of gas, price will drop faster.....
Post a replyBack to Topics 

"Consumers working together to save on gas"
About Us | Privacy Policy | Disclaimer | Advertise With Us | Advertiser Log In | Contact Us   GasBuddy Organization Inc.