Why are crude oil prices not reflected at the pump?

Ok, reading the news today it shows that crude oil prices have dropped dramaticly this year.As of today it is 86.63 dollars per barrel. The highest price per barrel this year was 113.93. Thats a pretty damn big difference. Now why isnt it showing at the pump at all?

5 Responses to “Why are crude oil prices not reflected at the pump?”

  1. Alexander H Says:

    The crude oil has to first be refined into gasoline, so there is usually a time lag between the wholesale price of gasoline and that of oil. There has also been some hoarding and price manipulation by companies involved.

  2. Somewhere Here Says:

    the oil exec’s need more profits

  3. Ryan Says:

    Because Oil company’s still want to cash in.

  4. John R Says:

    Look up the term "speculation" with reference to commodities trading. Also "futures".

  5. Tim Says: