Gas Prices: Faster Up, Slower Down
Gas prices are falling, yeah, as oil prices fall. However, I did some checking, and with oil today down to $116 a barrel, the average retail gas price is $3.80 a gallon.
Now back at the end of April as oil reached $116 a barrel, average retail gas was $3.50 to $3.60 a gallon.
It seems that gas prices fall slower than they go up. I know that there are other factors involving gas prices besides the cost of a barrel of oil, such as demand and world events; but somehow the cynic in me is not surprised that what goes up is coming down slower than we would like.
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