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Can anyone tell me why gasoline at the pump takes so long to go down when the futures drop as they did this last week versus when the gas futures go up we see the price of gasoline jump the next day at most gas stations. Currently gas at the pump should be around $3.50 according to the gasoline futures but it may take weeks for us to see that price if ever? Why?
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ngt2293, I check it about three times a day and don't know why it is that way, some say it is the first-in-first out factor or something like that, but that can't be right since if the futures go up the prices go up for the same old oil that day, but if the futures go down they wait a heck of long time to drop the rates, futures trading charts, http://futures.tradingcharts.com/marketquotes/index.php3?market=CL
about gas,the fact is most gas retail locations have as many as three storage tanks in their locations,most will hold a min. of 10,000 gallons of gas. if going up and they have say 9000 gallons of gas in each of these tanks,go figure if going up 10 cents a gal.mutliplied by their stored gas,already on hand,theyve made money on that.but if it goes down they like to wait till they actually have to buy it again.always make note of who is the first stores to go up and who is the last going down and try not to buy from those who leads our market up in price,thats done by some of our local greedy distributors and is always the same ones,refuse to buy from those,even when they may seem to be a bit less which is seldom.this week while traviling the price in Ky.at same locations,went down 30 cents a gal at once,did you see that around here,you saw trying to go down as little as 3 cents and some trying to hold our local market at 399 not wanting to go down.in all fairness remember,there is 2 cents more tax a gallon in Florence,than colbert co.DONT BUY FROM THE PRICE UP LEADERS.
Now they have us thinking that $3.69 is a good price. One thing is that we (our country) cut it's gasoline useage by 4% due to these high prices. If we go back to our gas-wasting ways , we can expect gas to go back up.
Hopefully, we learned from this experience and stay with our gas saving ways of late, and even cut useage more.

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