Anonymous
Anonymous asked in Politics & GovernmentOther - Politics & Government · 1 month ago

If the price of oil is so low, why isn't gas lower?

A barrel of oil is hovering around $50 and is expected to drop, but the price of gasoline remains steady or can even be seen increasing.  Why isn't gasoline dirt cheap if oil is so cheap?

4 Answers

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  • Zirp
    Lv 7
    1 month ago

    because the oil companies like higher profits

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  • Foofa
    Lv 7
    1 month ago

    In the state where I live it's because about $1.35 of each gallon's cost is all just taxes.

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  • 1 month ago

    There's more in the cost of gas than just oil. Usually the difference points to refining issues.

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  • 1 month ago

    Mandatory refining practices, new blending additives and most importantly, taxes. 

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