Current oil prices compared to gas prices?

When oil was $60/bbl a few years ago gas was about $2.00 gallon. With the current price of a barrel of oil at around $60 why am I still paying $2.90 for a gallon of gas? I'm in Phoenix, Arizona.Current oil prices compared to gas prices?
1. Inflation


2. Speculators still keeping gas from dropping at a good pace








A barrel of oil has 42 gallons, but when you refine it you won't get 42 gallons of gasoline, but even if you did, it would cost $1.20 just for the oil used to refine it. There would also be the expense of maintaining the refinery which would have to be added to the price to make it worth refining. Then you would have to add the federal and state gasoline tax.





The refiner would want a profit, the trucker that hauls it would want some profit, and the station that sells it would like to make a few cents too.





It's probably gonna come down a bit more, then starting next month go back up since the oil cartels are cutting production by 1.5 million barrels a day starting nov 1stCurrent oil prices compared to gas prices?
Although the price of a barrel drops quickly what is being refined at the older price also gets calculated into the mix because it is still being refined. If it stayed at 60 for a year you would se the change.


But that will not happen. OPEC announced hey are cutting back production yesterday to increase the barrel price, and it did not work


If Obama wins they will have free reign to raise oil to what ever they want.


Obama is actually financially backed by them