Why when oil goes up on the commodities market does gas go up immediately but when oil goes down gas stays the same or lowers slowly?
I don't know if you pay attention to the price of oil, but right now, it is at it's lowest point in years. So why isn't gasoline? If you look around Glasgow you will find most of the stations in the $1.70s. certainly not as bad as it was a few months ago, but not as low as it was a few weeks ago, when oil was selling at $60 a barrel. Oil, as I write this, is selling for $34 a barrel. In fact today is the sixth straight day the average price of gasoline has risen in the U.S. While oil has become cheaper in the same period.
I am no expert but it seems the gas stations are gouging us a little in hopes we don't notice because gasoline is relatively cheap.
The only way to break them of this habit is to always buy where it is the cheapest price.
In other words reward the honest businesses with your business.
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