Do any of you remember when Oil was around $50 a barrel? I was in high school and I remember paying 97 cents for a gallon of gas.
I remember when oil went over $300 a barrel and prices went up nearing $4 a gallon.
I can grasp this, it is the basic economics.
Please help me understand that as oil has climbed 40% over the past 2 years to avg $62.06 a barrel, why are we not somewhere around the $1.25 a gallon price?
Corporate greed. I know that with constant improvements in technology, the cost to refine a barrel could not have gone up 200-300% over the same past decade.
It is because we are dependent on it, and they determined what they know we will spend based on consumption trends as the price went from $1-$4. They realized maximum profit for least public concern was somewhere around 2.50-3.00 and so there it now sits.
Cmon Tesla, get those electric cars out there so we can show the oil company we will not be their slaves forever.
I believe electric cars are the future. Especially since Tesla just rolled out electric trucks. Most of this will not get into production until in becomes cheap enough to mass produce.
I remember when oil was $20 a barrel and gas was $0.15 a gallon.
the reason the price has gone up?
taxes...
MOST of what you pay at the pump is tax.
Must be hidden, federal and state gas taxes on gallons have not gone up in many years until just recently. I would gladly vote for an additional 10-20 cent state gas tax if I was guaranteed 100% would go to roads and bridge repair.
how has that worked out in the past?
ya like those bike trails do ya?