This may be a stupid question

[maxpower]

But with oil down around $50 a barrel why prices only dropped 10-15 cents? When the price goes up the cost to us is immediate. Why hasn't the cost of a barrel of oil dropped the price of gas? Just wonderin'

[TexasObserver]

1. Gasoline is a refined product. The problem is the lack of refining.

In the wake of two hurricanes.

Don't expect gasoline to drop any time soon. Maybe two months from now.

[gateley]

2. It's down $50/barrel today? I thought it shot back up over the last few days.

(Sorry for being OT, just wanted clarification. And I've never understood the situation you're asking about, so I can't help you there.)

[samuraiguppy]

3. most of the refineries are

down in hurricaine country--they need to get back in line and up to capacity before you see a substantial decrease in prices.

A dumb question of my own--why don't we spread the refineries out more instead of having so many of them on the gulf coast?