Not long ago gas was $1.50 a liter, and $150 a barrel. Pretty simple math, a liter of gas at a cost of 1% that of a barrel of oil.
Today, The cost of oil is about $50 a barrel, but the cost per liter is $0.88 – 1.76%. Why is there not a clean ratio here? Seems, that while the price per barrel has dropped substantially, our price per liter has not dropped at the same pace. How can they say they are not gouging – should gas not be around $0.50 a liter today? I would really like to see a very detailed report outlining how gas prices are set – this just aint right.
Also, they say that as the cost per barrel drops, our pump prices will drop, but it takes a few months to see the effect, HOWEVER, when the cost per barrel rises, the pump prises rise over night – why dont they also take a few months to impact us customers?
I just wish that I could park my car and simply not consume fuel – but, as the gas companies know, they simply have us over a barrel.