It seems to me that with with the price of oil down 20% in the last couple of weeks that gas prices should have followed suit. However, what we are seeing is typical price manipulation where the price has only fallen 5% nationwide.
I have read that this is called "Rockets and Feathers" and has been the way oil and gas have worked for 20 years. The problem is the price at the pump is largely based on the price of oil in the future no today. So as prices drop, it will slowly reflect the price at the pump but you need a trend of a year of lower prices in order to have the full drop. The result is steady rising prices with no relief.
Some also say that when prices are on the incline people are more apt to price shop for gas, but when it is falling people fill-up and get there gas whenever and where ever they can making it less competitive for gas stations -- thus prices hold steady.
I don't have a solution, it just pisses me off.
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