phion profile image 62

Why does the cost at the pump never reflect the price of crude?


Ok, we all know there is a delay in transferring the price of crude to the pump. My issue is when the price of crude goes down drastically it takes a considerable amount of time for the price at the pump to reflect it, but when the price of crude goes up it is almost instantly reflected at the pump. So basically it seems that the speculators only work in favor of big oil companies. The price at the pump has not reflected the price of crude for some time, and the gap continues to grow with each rise and fall.

 

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whonunuwho profile image82

whonunuwho says

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5 years ago
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  • Attikos profile image

    Attikos 5 years ago

    Oil in its various grades, like corn, is a commodity. The closest thing in it to a monopoly is OPEC, an association of governments not companies, and while it does manipulate prices its ability to do it is limited. There are no dropping hats.

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H C Palting (Express10) says

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karl (Silverspeeder) says

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Attikos says

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BobMonger says

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JThomp42 says

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