I am sure in a day it will rise three at most. Once it rises a slight bit it will jump at the pump. Funny how even at this low price our pumps are still at 4.00 a gallon.
International Level: Senior Politician / Political Participation: 188 18.8%
Yes, isn't it interesting that the floor falls out from under that $140/barrel oil and suddenly production gets cut? And even at $65/barrel, we are not under $3/gal yet here in my town. If there was any doubt about the greed surrounding oil prices, this should convince us!
International Level: Ambassador / Political Participation: 595 59.5%
I agree there is a lot of greed in the oil industry. The cost of a gallon of unleaded is selling to the stations at $1.47 a gallon right now. If this is the case and you figure $.50 a gallon for profit and transport costs we should all be paying around $1.98 a gallon. Anything above this figure is mostly profit for the big oil companies. I do know that the prices I saw taking my kids to school today were in the $2.249 a gallon range.
The lowest I've seen around my area was today at $2.869/gal., and highest today was $3.139. Ought to be way lower than that at $62/barrel!
International Level: Ambassador / Political Participation: 595 59.5%