Monday, August 23, 2010

Why are gas prices going up even tho the oil is still down?

I've notice that gas prices are going up. However I've notice that the barrel of oil is down. I know CITCO stopped donated heaing oil to families in need because ';The barrel of oil is down and demand is down'; so can anyone tell me why gas prices are going up even tho the barrel is going down?Why are gas prices going up even tho the oil is still down?
That's exactly what I would like to know. Seems pretty much like gouging to me.Why are gas prices going up even tho the oil is still down?
Refineries are busy upgrading/cutting production due to the low price/ demand of gasoline. It is not cost effective for them to drive the price of gasoline down by putting more product on the market. In other words, the refiners are hoping to weather the bad economy by cutting back production. It costs a lot of money to pay workers and operate refineries at higher production levels.
high demand. The barrel of oil price does not necessarily determine your gas price. Our refining industry is maxed out.
Because of greed by the treasury.

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