Why Do Gas Prices Change? | Show Me | NBC News

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Why Do Gas Prices Change? | Show Me | NBC News

[mikeeyram]

This doesn't explain why the gas/fuel sitting in the gas stations tanks is always changing in price. We buy up to 3, 000 gallons at a time. The fuel sitting in our tank does not change in price, but why do gas stations prices change the price of their gas/fuel in their tanks?

[TralfazConstruction]

Near the peak of the 2008 Debacle oil 🛢 was going for around $140/barrel. Prices at the pump, $4.50/gal. or so. In January of '09 (The Great Recession) oil crashed and a gallon of premium gas was going for $1.39 in Delaware. Pump prices for gas and the price for a barrel of oil have not coordinated in over ten years.

In September of '05, just after Hurricane Katrina, gas prices spiked. I had to drive from Philly to Atlanta (816 miles) and with spot shortages I took the opportunity to top-off my pickup's tank all the way to Atlanta. In Langhorne, Pennsylvania, the price changed (went up $0.15/gal.) _while_ I was inside the convenience store (Wawa) getting a cup of coffee ☕ just as I was about to head back to Atlanta. Once back in town the governor or the Georgia legislature dropped the state tax on gas for the remainder of September. Fuel prices have been volatile for the past twenty years at least.

[syedjavedahmad]

Good to know.
Now cost of a barrel crude is as reported by NPR last week is $23.
I remember in 1999, when crude was $20. Gas at the pump was 99cents I pumped at Costco.
Why, it is not going down now.
It should be be around $1.10 per gallon my estimate.

Why the companies taking advantage of consumers. Why?

[larrytischler]

I can't believe NBC ACTUALLY told the truth about what they said about the price of gas. Supply, transportation, taxes, and traders do get the bulk of the cost per gallon. The biggest variable is normally that traders cut. They did not however go over government regulations which either raises the price inthe spring or keeps them from falling when cheap crude oil is available. The government's mandate to burn more expensive gasoline at the end of winter is arbitrary and creates shortages this time of the year.

[mjjansen]

Thanks for sharing idol..stay connected

[rosendodominguez]

NOT RELEY .GAS IN HOUSTON .IS ALL WAYS .TO MACH.😂