Oil has already dropped below $79 a barrel.
(www.marketwatch.com)
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4.04 here. Dumb question I am hoping someone can answer. With oil prices dropping why has gas not started to follow that trend. I'm thinking and Im probably wrong but, the refiners and any company in fuel industry are just straight up ripping the American people off off to keep giving Trump a bad look?
Gas prices don't drop the instant oil prices drop because it takes time to refine and produce the lower priced oil into gasoline, and then it takes even more time to deliver all of that less expensive gasoline to the pumps. Be patient.
It is about 2 weeks for cheaper oil to hit the refinery and then get to the gas station. Add a little time for the oil to arrive at the refinery. Not exactly how it works, but easier to understand.