Since oil prices dropped nearly $20 in the past 2 weeks...
Thread Starter
Senior Member
Joined: Jul 2001
Posts: 129
Likes: 0
From: Detroit, MI
Vehicle: 2002 Elantra
Since oil prices dropped nearly $20 in the past 2 weeks...
How long until prices drop at the pump? Will they drop? Oil was ~ $87 a barrel two weeks ago, and now it's $68/barrel, and still dropping. Think it'll take a week or two, or you think they will stay as is?
Super Moderator
Joined: Dec 2002
Posts: 5,735
Likes: 3
From: Vegas, Baby, Vegas!!!
Vehicle: '14 Ford F-150
I laugh when people tell me that the price of gas is related to the price of oil...
The price of gas is only related to the price of oil when oil goes up.
The price of gas is only related to the price of oil when oil goes up.
Moderator
Joined: Feb 2009
Posts: 11,732
Likes: 5
From: Leesville, Louisiana
Vehicle: 2001 Hyundai Tiburon
They usually set the price one month in advance. Since there are gasoline reserves, it may take months upon months for the average to drop. A drop in price of gasoline means less price to fill the reserves. If the distribution company has 1 year of reserves then that may mean you see .005 per month drop for the next year or something like that.
Besides... you drive a Hyundai. Leave the worring for someone who drives a V8 truck.
Besides... you drive a Hyundai. Leave the worring for someone who drives a V8 truck.
