Why is the gas price where it is? Yes is has come down almost 28% in 2015 so far and I could not recall the last time that I saw the price of gas below $2, but the price of oil has dropped over 50% this year. Profit taking by the refineries are to blame as companies like Exxon and Valero Energy and Marathon Petroleum have put Billons into their pocket in just this last quarter alone (WSJ 10/3/2015.)
Worse yet, is that drivers are doing more driving. With the price of oil down and gas prices down and a more stable economy has people spending money again. Don’t even think about the environmental impacts of the increased driving. There is an increased demand and the refineries has slowed the release of reserves. This is making oil companies very happy as you and I are not complaining about the oil companies making BILLIONS of dollars on us that they didn’t in the past.
I have a post in the past that talks about the problems with big public companies and how that translates to us as consumers. I don’t blame them, but there is a definite issue that should be addressed.