Gas price puzzler

July 3, 2012 4:08 am

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As reported by Fox Business News on June 21, the price of crude oil was down 28.76 percent from a high of $109.80 in February. Assuming that refining costs remain relatively stable, why is gas still selling here for $3.39 to $3.49 at the pump? Should my cost be closer to $2.85 per gallon?

Keep in mind how fast pump prices go up when crude prices increase.

CHARLES J. FOLLEN
Avalon


First Published July 3, 2012 12:00 am

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