Okay...somebody 'splain this to me

[ewagner]

A few months ago, when oil was creeping from $30 per barrel to $35 and then to $40, every minute increase in $/bbl was met with a corresponding jump at the pump. I think some DUers even reported changes in pump prices twice a day.

So now, oil has gone over $47/bbl and gas prices are LOWER than they were at $35/bbl.

My suspicion is that we (the voting public) are bing manipulated in a BIG WAY but there doesn't seem to be any way to prove it.

Anybody care to explain?

[Warpy]

1. The usual explanation is that $47/bbl applies to futures

and that means the gas prices won't rise until late September or early October.

However, I think you're right. The oil companies have never been shy about raising gas prices the second the futures market takes off, so I think they're trying to lull the rubes into a false sense of security.

They will recoup their losses, though, so be prepared for three bucks a gallon.

[Terran]

2. Yes, it is extremely suspicious

I wish someone would ask President Bush that question...love to hear his answer.