Oil Profits Should Hit Record Highs:
The price of a barrel of oil has dropped to $84, which should mean that gasoline at the pump should cost you less than $3 a gallon, but the price at the pump in most places is still around $3.50, and where I live it is above $3.65. (See The Washington Post article.)
Traditionally, the price at the pump has been tied to the price of a barrel of crude, but the major companies have seemed to realize that the average person has no idea about this relationship. And let's face it, the oil companies have congress in their back pockets.
The price of a barrel of oil has dropped to $84, which should mean that gasoline at the pump should cost you less than $3 a gallon, but the price at the pump in most places is still around $3.50, and where I live it is above $3.65. (See The Washington Post article.)
Traditionally, the price at the pump has been tied to the price of a barrel of crude, but the major companies have seemed to realize that the average person has no idea about this relationship. And let's face it, the oil companies have congress in their back pockets.
Labels: The Economy
posted by Jim | 3:50 PM
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