Back in April 2004, I was getting gas from the gas station at $2.26/gallon. At that time the price of crude was about $36 per barrel. Now in Sep 2004, the price of crude is hitting $50 per barrel (approx 40% increase) and I still fill gas for $2.23/gallon. Whats the deal here as something is definitely not right?
Over the weekend I was talking to a gentleman about this and he mentioned that in UK the price of gas has already been adjusted (from 5 to 7 pounds) because of higher oil prices (pls confirm??), but this adjustment has not been made in the US because of election and that oil companies want Bush to be re-elected. Come what may, post-November, the gas prices will suddenly rise very high to factor in the oil prices.
Comments…?