$$$ Oil has fallen so why don't we see it on the pumps?

The price of oil has fallen to below $50 a barrel so why aren't the prices coming down at the pumps. I can't believe people still think our governments are trying to help us!

My question is how can these companies get away with it? why on earth don't people realise this? I wonder how many people would even know that oil prices have fallen?

London oil prices have slipped below $50 a barrel for the first time since May 2005.

Link to source



[edit on 21-11-2008 by franspeakfree]

Ummmm.

It's $1.99/gal here. Just a few months ago I was paying $4.29-4.59.

Gas below $2 in 23 states

How are we not seeing it at the pumps?

In Nymex trading December delivery for gasoline futures is at $1.03 a gallon....
That's wholesale...retailers are free to charge whatever they think they can get for it and here in the States the government's adds between .46 and .63 cents tax...
Why you in London are not seeing a drop in prices probably has more to do with EU policy than current market trends...

Because they can and know there is nothing you can do about it,sorry about the bad news

Usually the fuel you are buying was bought at a higher price,as they replenish it at new rates price will fall,they have come down almost 3 bucks here

It is the lowest it has been in over a year in Ireland. Under a euro in some places

Originally posted by anachryon
Ummmm.

It's $1.99/gal here. Just a few months ago I was paying $4.29-4.59.

Gas below $2 in 23 states

How are we not seeing it at the pumps?

Typical, thinking about yourself and not others

Fuel prices in Europe have not been as lucky they have seen little change in their prices and in some places pay over £1 a litre for gasoil

Originally posted by Dermo
It is the lowest it has been in over a year in Ireland. Under a euro in some places

Rub it in why don't you! its a bloomin cheek I tell you a bloomin cheek, maybe Europe need to take a leaf out of the US and Irelands book

Originally posted by franspeakfree
Typical, thinking about yourself and not others

Fuel prices in Europe have not been as lucky they have seen little change in their prices and in some places pay over £1 a litre for gasoil

I'm sorry, I didn't realize you were in Europe.

Are you in the UK? If so, I'd be inclined to think the weakening £ may be in play here...

Another big part of that is that your government is raking you over the coals with their gas taxes. According to wikipedia, buyers in the UK were paying around $3.80 (american dollars) per gallon taxes in October of this year. In my state, my combined gas taxes (federal, state, local) are around $.55.

I think maybe instead of complaining that the oil companies are ripping you off you should be looking to the government. Here in the US, the government is looking to issue windfall profits on the oil companies and I see constant threads about how evil and greedy the oil companies are. None of these people seem to realize that when you add up the income taxes and taxes added at the pump by our federal government they are making almost twice as much per gallon as the oil companies are. Who are the real crooks?

Originally posted by anachryon
Ummmm.

It's $1.99/gal here. Just a few months ago I was paying $4.29-4.59.

Gas below $2 in 23 states

How are we not seeing it at the pumps?

I was in Allentown, PA yesterday and saw $1.97 a gal and was all excited!!! Yipeee it's coming down; just not as fast as it shot up to begin with.

A_L

Actually like I said before this will not last, already the OPEC is above to cut more on the production just right next week for the holidays so they can boost prices again.

So enjoy until it last.

[edit on 21-11-2008 by marg6043]

$1.71 here in South Texas, where two months ago I was paying 4.10.
Has been a loong time since ive seen prices this low, my fuel hungry truck and my wallet love it.

Originally posted by BlueTriangle
Another big part of that is that your government is raking you over the coals with their gas taxes.

Yup.

I saw gas here for $1.89 yesterday.

You should be happy to pay so much. Without the taxes and regulations the sun wouldnt shine. Or so Ive been told.

Here in Australia fuel has dropped about 30 to 40 cents a Lt but they say we wont see it much lower due to the fact the Australian dollar is taking a pounding as of late .

But I'm scared because i don't think that the price of oil is going to stay down for very long Just think of how much money the big oil giants have made over the past year ? compared to what they are making now it's nothing.

Just wait and see my friends

reply to post by marg6043


I was listening to Rush Limbaugh (please continue reading, dont give up) and he said something that was really interesting.

Basically he said that the government saw how high gas prices can get before people start saying enough is enough, that price was $4 a gallon. Now that prices are around the 2 dollar mark they have an oppurtunity to raise the taxes on gas to make it 3 dollars a gallon. No one would say anything because, hey atleast we aren't paying $4.

I'm more inclined to think this scenerio will play out before the OPEC one does. After all, where else are we going to get the money for this bailout, our national debt and whatever else taxes pay for? Obama said he was going to lower our taxes. The rich can't and won't pay everyones share. Imangine how much money the US can make on a dollar tax hike on a gallon of gasoline. Taxing gasoline would be the easiest thing to do, because as long as it is around 3 dollars, nobody will complain.

Even though I consider Rush Limbaugh to be a bit of an a-hole and a moron, I will say that he's probably right on that one. We at ATS were saying the same thing as prices were rising. They found the tipping point of maximizing profit and pushing people to investigate other sources of energy. Maybe that wasn't the intent of the price hike, but I'm sure it's data that they'll take into consideration for the future. They now know it's in their best interests to keep the price of gas under $4 to keep people happily using oil.

As far as the situation in the EU, sorry you guys are getting the shaft. It does sound like the gov't in the UK is taking a handsome cut for taxes though. That's where I would direct my complaints.

[edit on 21-11-2008 by an0maly33]

Originally posted by another_lurker

Originally posted by anachryon
Ummmm.

It's $1.99/gal here. Just a few months ago I was paying $4.29-4.59.

Gas below $2 in 23 states

How are we not seeing it at the pumps?

I was in Allentown, PA yesterday and saw $1.97 a gal and was all excited!!! Yipeee it's coming down; just not as fast as it shot up to begin with.

A_L

By my reckoning, it's going down a hell of a lot faster than it went up. Just this summer, gas was 3.99 a gallon for regular unleaded, and now it's like 1.99. Five months for a 50% reduction in prices is pretty fast. After all, it took about six years to get that high.

reply to post by franspeakfree



Gas is $1.90/gal. here were I live. A few months ago it was $4.20/gal.

I read an article online yesturday that included some pictures of gas prices at the pump. One of them had a price of $1.33/gal. and the photo was taken recently! I don't remember were that price was though.