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Can somebody explain to me why gas prices have gone up recently while the price of oil is dropping like a rock?



Oil isn't the same as gas at the pump. There are refineries and distribution in the middle, and other competition for refining & distribution resources, particularly home-heating oil for cold weather. Not to mention a lot of people trying to hedge against the price of gas this spring in terms of what the current Global Cooling crisis is doing to the oil & derivatives inventory.



OK so explain to me why when a rise in oil prices is announced, the price at the pump starts inching up the next day. When a drop in oil is announced, it takes two weeks for them to start dropping.



From what a gas station owner told me is that they have to raise the price now so they have the money to purchase the fuel when it arrives later at the higher amount.
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It was a wonderful community with some very enjoyable members. But the vast majority were like German housewives circa 1943 prenteding that horrib;le smell wafting through their open windowsd was just the neighbors having a cookout..--Windsock