Thursday, September 11, 2008

Are Gas Stations Gouging Us?

Back on June 27, I reported that when oil was at $142 per barrel, a 118 percent increase over the last year, that gas prices over the same period went up $1.09 a gallon, an increase of 36 percent, from $2.98 to $4.07. Here in North Texas, the most we paid was $4.00.

Now, with oil hitting just over $101 a barrel, we are paying $3.50 a gallon. The price of oil has droped about $45 dollars from its high of $147, or 31 percent. Gas, however is only down 12.5 percent.

Where's the love, Exxon? Are they trying to make up lost ground?

Once you get used to paying more for a commodity, it's hard to get prices down.

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