GasBuddy News Article

votes

Why do gasoline prices rise so quickly and fall slowly?

Asbury Park Press -- Gasoline seemingly goes through a maze to get from the oil field to your car, with the price adjusted multiple times along the way. But there’s a simple explanation as to why gasoline station owners raise prices faster than they lower them: because they can.

It could be called a dirty little secret, but it’s not even a secret. In fact, there’s a phrase for it – up like a rocket, down like a feather. And to motorists, it’s awfully irritating.

“It seems like you’ll read in the paper that the price for a barrel of oil has fallen, and then you’ll have to wait forever” before it hits your pocketbook, said Joan Freyer, a Deposit, N.Y., resident who was visiting the Shore on vacation last week.

After declining nine consecutive weeks, gasoline prices are on the rise again, cutting into

Read the Full Article

Submitted Jul 23, 2012 By: MidNJ

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Why do gasoline prices rise so quickly and fall slowly?	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First

Next Last

tomok Champion Author Portland Posts:32,911 Points:2,341,510 Joined:Aug 2006	Message Posted: Jul 26, 2012 9:53:13 PM Ignore tomok Report Abuse Fuel at the pump does go up like a rocket and down like a feather, so very true. Fuel retailers and suppliers try to get the most money for their product. If volume sold goes down, drop the price a little. When volume sold goes up, raise the price slightly. There is No supply and demand, Big Oil will charge what they want because they can. If you don't like the price of fuel at the pump, try the other fueled vehicles (such as EV's or Inbreds) that may cost less to fuel the vehicle for the miles driven. Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost. The price of fuel at the pump is too high! 12/22/2012
1006 Champion Author Birmingham Posts:1,105 Points:1,350,715 Joined:Apr 2008	Message Posted: Jul 26, 2012 2:57:01 PM Ignore 1006 Report Abuse who likes to lower prices when you are on that side?
honda0105 Champion Author Tallahassee Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Jul 25, 2012 1:18:03 AM Ignore honda0105 Report Abuse PCW: nah... answer: Pig Oil greed.
PCWHIZ All-Star Author Denver Posts:573 Points:436,800 Joined:May 2004	Message Posted: Jul 23, 2012 5:37:44 PM Ignore PCWHIZ Report Abuse Why do gas prices rise so quickly & fall slowly? That's the million dollar question.
bston Champion Author Oklahoma City Posts:1,795 Points:637,300 Joined:Mar 2011	Message Posted: Jul 23, 2012 5:23:52 PM Ignore bston Report Abuse Seems like a gamble & we can't win.
A2J Champion Author Richmond Posts:3,060 Points:599,925 Joined:Aug 2011	Message Posted: Jul 23, 2012 4:34:21 PM Ignore A2J Report Abuse Oil Politics
PDQBlues Champion Author San Diego Posts:7,049 Points:1,443,350 Joined:Jan 2009	Message Posted: Jul 23, 2012 4:32:45 PM Ignore PDQBlues Report Abuse FuelishGuy: Capitalism 101: Thou shall make a profit ...the more the better ...the faster, even better! And what we lack then is competition. Capitalism works for the consumer ONLY when competition is strong. But the oil corporations collude, and as such, there is no competition.
FuelishGuy All-Star Author Edmonton Posts:791 Points:920,860 Joined:Oct 2008	Message Posted: Jul 23, 2012 2:37:11 PM Ignore FuelishGuy Report Abuse Capitalism 101: Thou shall make a profit ...the more the better ...the faster, even better! If you can't beat em, join em. Buy the oil companies before the Chinese scoop them all up. Limited time offer; batteries not included.
bwatchingu Champion Author Arkansas Posts:1,725 Points:596,745 Joined:Jan 2009	Message Posted: Jul 23, 2012 12:25:36 PM Ignore bwatchingu Report Abuse I have to the word-greed.About 4 years ago the Murphy USA(at Walmart)all of a sudden raised their price $.15 the same day as gas and oil was still going lower.Called the home office and asked them for an answer-they couldn't give me one,and said someone would call me back(didn't)and before I ended my call I told them that I posted their price on GasBuddy and that their price was the highest in the state of Arkansas.They dropped their price back down within one hour.Another raised their price later but only briefly only because they thought they could make extra money.They admitted such to me.GREED
PurplepassionNC All-Star Author North Carolina Posts:838 Points:157,310 Joined:Mar 2012	Message Posted: Jul 23, 2012 11:52:08 AM Ignore PurplepassionNC Report Abuse Called greedyness....
dcone2 All-Star Author Los Angeles Posts:894 Points:79,660 Joined:Jul 2012	Message Posted: Jul 23, 2012 9:25:33 AM Ignore dcone2 Report Abuse We're getting ripped off again!!
leemun Champion Author Utah Posts:5,513 Points:1,035,375 Joined:May 2010	Message Posted: Jul 23, 2012 9:20:24 AM Ignore leemun Report Abuse On greed: "The public may curtail my profits any time it wishes – by refusing to buy my product. . . . Any other method of curtailing profits is the method of looters – and I recognize it as such.”
Fitwit Champion Author Stockton Posts:6,378 Points:1,352,050 Joined:May 2009	Message Posted: Jul 23, 2012 7:09:57 AM Ignore Fitwit Report Abuse There seems to be a greed consensus.
Soglaos Champion Author Virginia Beach Posts:2,770 Points:736,485 Joined:Feb 2011	Message Posted: Jul 23, 2012 6:57:01 AM Ignore Soglaos Report Abuse greed
Bigtex09 Champion Author Dallas Posts:4,268 Points:1,155,285 Joined:Oct 2009	Message Posted: Jul 23, 2012 6:50:43 AM Ignore Bigtex09 Report Abuse greed
zoomer20 Sophomore Author Indiana Posts:231 Points:260,850 Joined:Apr 2012	Message Posted: Jul 23, 2012 6:39:04 AM Ignore zoomer20 Report Abuse Big oil and stock market greed. Just because oil goes down doesn't mean that my saved cash is "disposable income"...no such thing in my book. Just means I have the money to pay another utility bill on time, do to the screwed up economy. The only thing that was disposable was my job of 20 years that was eliminated due to corporate greed over the past 10 years or better.
jcdakota Champion Author Baltimore Posts:1,347 Points:361,345 Joined:Nov 2010	Message Posted: Jul 23, 2012 6:05:16 AM Ignore jcdakota Report Abuse This was a very informative article -- any ideas how to get it to operate at the same speed up or down?
TXryder Champion Author Texas Posts:2,684 Points:428,690 Joined:Jan 2012	Message Posted: Jul 23, 2012 5:57:31 AM Ignore TXryder Report Abuse quite obvious out here.... G R E E D !
ampinoy13 Champion Author Oregon Posts:36,596 Points:2,647,130 Joined:Jul 2004	Message Posted: Jul 23, 2012 5:55:45 AM Ignore ampinoy13 Report Abuse Speculators and oil company GREED!
bobsalwaysmt Champion Author Long Island Posts:4,649 Points:265,265 Joined:Oct 2007	Message Posted: Jul 23, 2012 5:54:06 AM Ignore bobsalwaysmt Report Abuse Manipulation!
ARCO Champion Author Pittsburgh Posts:2,323 Points:2,372,395 Joined:Sep 2005	Message Posted: Jul 23, 2012 5:52:43 AM Ignore ARCO Report Abuse ALL ABOUT THE $$$$
sciotosix Champion Author Dayton Posts:2,724 Points:661,900 Joined:Apr 2011	Message Posted: Jul 23, 2012 5:43:19 AM Ignore sciotosix Report Abuse Because they can.
zaq001 Champion Author Atlanta Posts:3,955 Points:1,468,850 Joined:Oct 2008	Message Posted: Jul 23, 2012 5:42:37 AM Ignore zaq001 Report Abuse ok
tes283 All-Star Author Tampa Posts:865 Points:368,850 Joined:Dec 2011	Message Posted: Jul 23, 2012 5:40:58 AM Ignore tes283 Report Abuse If we'll pay, why not charge more?
AJeepLife All-Star Author Ottawa Posts:626 Points:330,010 Joined:Mar 2011	Message Posted: Jul 23, 2012 5:40:15 AM Ignore AJeepLife Report Abuse the FREE MARKET economy is the plus and the minus to most prices in North America- but the fact remains that BANK INTEREST- at 15-27.99% and oil/gas prices -exaggerated and inflated- are designed to manipulate the economy and to make it FREE- only to those that control it- not to US the actual economic participants.
viperahul Champion Author Oakland Posts:1,200 Points:590,450 Joined:Feb 2006	Message Posted: Jul 23, 2012 5:39:41 AM Ignore viperahul Report Abuse Greed.
SUPERQUACK Champion Author Sacramento Posts:6,106 Points:1,907,080 Joined:Jun 2007	Message Posted: Jul 23, 2012 5:39:37 AM Ignore SUPERQUACK Report Abuse YES ..... GREED !!!!!!!!!
TWS658 Champion Author Portland Posts:4,543 Points:950,875 Joined:Sep 2005	Message Posted: Jul 23, 2012 5:38:07 AM Ignore TWS658 Report Abuse Greed!!!!
zeeflyers All-Star Author Pittsburgh Posts:672 Points:215,460 Joined:Feb 2012	Message Posted: Jul 23, 2012 5:37:13 AM Ignore zeeflyers Report Abuse so big oil makes more money. DUH!
Homito All-Star Author San Antonio Posts:880 Points:174,700 Joined:Apr 2011	Message Posted: Jul 23, 2012 5:37:02 AM Ignore Homito Report Abuse who will help us? who will free us?
Homito All-Star Author San Antonio Posts:880 Points:174,700 Joined:Apr 2011	Message Posted: Jul 23, 2012 5:36:44 AM Ignore Homito Report Abuse hostages in a carbon-based empire.
CPayZombie Champion Author Phoenix Posts:10,042 Points:1,650,640 Joined:Aug 2008	Message Posted: Jul 23, 2012 5:36:19 AM Ignore CPayZombie Report Abuse When one's back hurts, one tends to move quickly in the direction of the least pain. As things improve, one move slowly into another position.
ROSYMI Champion Author Michigan Posts:1,028 Points:365,500 Joined:Nov 2011	Message Posted: Jul 23, 2012 5:31:52 AM Ignore ROSYMI Report Abuse they are just making their money who cares what we say
bullfrog69 Champion Author Texas Posts:2,304 Points:831,260 Joined:Nov 2009	Message Posted: Jul 23, 2012 5:31:47 AM Ignore bullfrog69 Report Abuse Don't buy and watch it fall like a lead ballon!
regasaz Champion Author Phoenix Posts:5,775 Points:1,278,630 Joined:Dec 2006	Message Posted: Jul 23, 2012 5:31:09 AM Ignore regasaz Report Abuse Retailers jump prices immediatly to increase their profit magins. When you see prices jump 12 cents and no deliveries made in the past 24 hours, there is no other excuse.
fervid Rookie Author St. Louis Posts:51 Points:409,085 Joined:Jul 2011	Message Posted: Jul 23, 2012 5:29:10 AM Ignore fervid Report Abuse They just need a law/requirement as to how many times or how much the price can change per day. Something like 1 change per day up or down a max $.03 change. You choose up when everyone else goes down then you get to deal with lost profits/customers for the day.
Car54BC08 Champion Author British Columbia Posts:4,229 Points:1,505,365 Joined:Jun 2008	Message Posted: Jul 23, 2012 5:28:47 AM Ignore Car54BC08 Report Abuse Oil dropped today and see if we ever see it at the pumps. I doubt it.
lonewolfhead Champion Author Texas Posts:1,636 Points:557,340 Joined:Aug 2011	Message Posted: Jul 23, 2012 5:28:42 AM Ignore lonewolfhead Report Abuse There are resellers that are in the middle that also jack up the price that the stations pass along to the pump
schatzila Champion Author Los Angeles Posts:4,924 Points:1,011,645 Joined:Jun 2010	Message Posted: Jul 23, 2012 5:28:39 AM Ignore schatzila Report Abuse No one really knows.
DeeMamma88 Veteran Author San Bernardino Posts:352 Points:279,105 Joined:May 2012	Message Posted: Jul 23, 2012 5:27:27 AM Ignore DeeMamma88 Report Abuse Gouge the consumers!
deaconjones Champion Author Cleveland Posts:2,109 Points:317,705 Joined:May 2006	Message Posted: Jul 23, 2012 5:26:30 AM Ignore deaconjones Report Abuse IT IS CALLED GREED......
Stevedog Champion Author Michigan Posts:3,828 Points:1,940,920 Joined:Jul 2006	Message Posted: Jul 23, 2012 5:25:56 AM Ignore Stevedog Report Abuse it's called collusion and every time there is an investigation dirty politicians can't seem to find anything wrong
toxigas Champion Author Oakland Posts:1,186 Points:403,365 Joined:Oct 2011	Message Posted: Jul 23, 2012 5:25:53 AM Ignore toxigas Report Abuse "up like a rocket, down like a feather" Sounds about right.
VernonOR Champion Author Oregon Posts:2,890 Points:733,495 Joined:Aug 2010	Message Posted: Jul 23, 2012 5:25:43 AM Ignore VernonOR Report Abuse Greedy oil companies, refineries, and speculators have a lot to do with the price at the pump.
91Explorer All-Star Author Dallas Posts:634 Points:1,125,140 Joined:Oct 2009	Message Posted: Jul 23, 2012 5:24:44 AM Ignore 91Explorer Report Abuse yup that seems correct!
flatrock14 Champion Author Michigan Posts:2,627 Points:772,695 Joined:Oct 2010	Message Posted: Jul 23, 2012 5:23:49 AM Ignore flatrock14 Report Abuse someone is playing a game on us
bicycler Champion Author Ontario Posts:14,815 Points:2,598,445 Joined:May 2005	Message Posted: Jul 23, 2012 5:23:12 AM Ignore bicycler Report Abuse Gee that`s funny all the station owners and those who lease say that it is the 'oilbarons' who set the price! Perhaps the situation in Canada is different?
ShineRunner Sophomore Author North Carolina Posts:249 Points:300,710 Joined:Apr 2006	Message Posted: Jul 23, 2012 5:22:34 AM Ignore ShineRunner Report Abuse We need government policies that will stabilize the prices. Not with this administraion will we get that.
MightyDude Champion Author Minnesota Posts:10,329 Points:2,643,995 Joined:Mar 2003	Message Posted: Jul 23, 2012 5:22:32 AM Ignore MightyDude Report Abuse its called GREED
unicornpmb Champion Author Buffalo Posts:8,466 Points:1,624,540 Joined:Sep 2005	Message Posted: Jul 23, 2012 5:22:29 AM Ignore unicornpmb Report Abuse How to make money 101.