Sunday, August 09, 2009
Pump Prices Not Matching Oil Prices Again...
So, if in July of '08 crude oil prices peaked at $147/barrel, and the average price of gas in my area peaked @ $4.65 at that time, then WHY when oil prices closed at less than half that peak on Friday ($70.93) the average price of gas in my area is up to $3.07/gallon???
LET'S DO THE MATH, SHALL WE?
71/147 = 0.483
So, 48.3% of $4.65 = $2.25
That's $2.25 per gallon... NOT $3.07.
We are getting gouged again!!!