Oil prices have dropped $8 in two days,why isn't gas dropping significantly too?

[meowchi]

Keep in mind that any significant increase is met almost instantly with a drastic rise in gas prices.

But here's my 2 cents:
Just as it takes time for prices to rise when oil prices rise, the same is true when prices go down. What you should see is gas prices stabilize this week and not increase. If the price of oil continues its downward tred the price will adjust over the next month in proportion to the drop in oil prices. An $8 difference is only going to mean pennies in savings at the pump.

[Sev]

What up with all this supa serious questions meow? Schoolwork?

Well, I think you're pretty spot on. It's basic company finance. Things don't happen overnight unless it's absolutely vital for buisness. Not that i'm an expert or something but i know how it works in my line of buisness.

Plus, obviously prices go up faster than they go down, unless the competition and demand isn't super high (as it is for gas). They will wanna make that extra buck and keep the prices up as long as they can.

Lucky me I sold my car and go public transport or ride the bike.

[meowchi]

What up with all this supa serious questions meow? Schoolwork?

Kinda- I'm in class, woohoo for intersession- rotting my summer away!

I sold my car too- the economy is just... whoa.

We should just elect 12/23 for world president and get this all over with!

[Sev]

We should just elect 12/23 for world president and get this all over with!

I say that's the best fucking idea of saving the world I've ever heard. I'm all in for it!

[Asmodai]

Gas vendors need to mark-up gas prices when the price of oil goes up to account for the cost of replacing their inventory. The price lags when prices go down because the inventory they're presently selling is what they paid the higher price for.

[StreakInTheSky]

The price of gas did drop a couple cents here I need to fill up pretty soon, hopefully we'll see prices drop a little more before this weekend