Taking Oil Speculators and Our Government to Task

With the recent drop in the markets, oil prices took a considerable drop as well. We have seen oil prices drop from around 100 bucks to the low to mid 80 dollar price lately. One very noticeable situation has many a consumer annoyed though, as the pump price for gasoline has not dropped correspondingly with the drop in the price of oil. Say what you will, but when oil was going up, the general public watched in horror as the pump price for gasoline flirted with and above 4 dollars in some regions of the country. When oil came down to the low 80 dollar range, it was time to see gasoline drop under 3 bucks. Percentage wise, this was the right price to see. Instead, we have seen gasoline prices hold steady and not drop very significantly at all once they bottomed around 3.50 or so. There may be slightly cheaper gas in some areas, but in general the price has remained above 3 bucks.

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