Why Is Gas Price Remaining High When Oil Price Is Going Down?
Logic would seem to dictate that if oil prices are going down, the price of gasoline should follow suit and go down also.
However the opposite has been observed lately. Of course as is the case in any fluctuation of oil prices, there is a range of reasons responsible for this.
So why exactly is the price of oil dropping whilst the price of gasoline at the pump is remaining high ?
Large US strategic petroleum reserves
A sluggish economy, and hence slow economic recovery has meant that there is low demand for oil. Many blame Obama's austerity measures for this.