This Seems Like A Reasonable Question To Me

   The price of a barrel of oil has fallen 24%, and is now at a 2 1/2 year low. It was trading at about 80 dollars a barrel as of this morning, and there are indications the price could drop even further.
   That's got a lot of governments worried. Our Canadian government, for example, stands to lose quite a bit of revenue if prices remain low or fall even further. Exporting nations are expecting budget shortfalls, but importing nations welcome the lowest prices in years.
   Now, that reasonable question: Why do oil companies seemingly immediately hike the pump-head price every time crude prices jump? Even when things like hurricanes in the Gulf are forecast, they jack the price up. Logically, then, with the price falling, we should see an incremental decrease at the pumps. But we're not (at least not right now). Why? Well, the oil companies say it takes a week or 2 for the old, more expensive crude to make it's way through refineries. Fine. Then wait a week or 2 to boost pump prices when crude prices rise. Admittedly, the chances of that happening are very slim to none.
   More than one person I've spoken with says we're being gouged, plain and simple.

TTFN