Did you know that the price of crude has been decling from its peak of $147 a barrel last month, crude oil has fallen by 19 percent -- but not gasoline. The local average gas price has fallen by less than 5 percent from its high of $4.346 a gallon on July 8 -- and 6 percent nationally. So, why do gas prices go up like a rocket as crude oil is rising, but parachute slowly downward when its basic raw material is plummeting. A brief explanation shows that while oil prices were making a steady incline, many owners were taking a beating at the pump because they were not passing the crude increase accross the board when they first started happening. Now that the prices are of crude as dropped, many owners are trying to recoup some of their losses. Although they will continue to gradually fall.
4 months ago when the gas prices were $3.27 a gallon I was mad. Now I will welcome these numbers with open arms... Once crude hits $100 a barrell then gas will go back under $3.00 a gallon
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