Oil Down To 8 Month Low, But Gas Prices Still High??

People are confused…and mad. Especially in the Southeast.

Knoxville Tennessee’s CBS affiliate WVLT: Crude oil prices are at an eight month low, but the price you’re paying at the pump is still a lot higher than it was back then.

In February, crude oil prices were around $90 a barrel, and gas prices averaged $2.91 a gallon.

But Tuesday in Knoxville, the average price of gasoline stood at $3.49 a gallon.

The price difference is almost $0.60 a gallon.

A lot of motorists say it just doesn’t make sense, but officials with AAA say the Southeast has the highest gas prices as we continue to deal with gas shortages.

…But Don Lindsey with AAA says oil prices tend to fluctuate more than gas prices. He says retailers often hold prices from going up when oil does then do the reverse.

…But when drivers hear low crude prices and see high gas prices.

Dick Grissom feels gas prices should be so high, and says, “I’ve run those numbers myself and it just doesn’t compute. Somebody’s making the money and where it is I don’t know.”

Armstrong says, “Somebody is taking advantage of people like me at the pumps.”

But there is someting else to consider.

There is one variable that’s present today that wasn’t back in February. There are gas shortages.

…Lindsey says two hurricanes to the Gulf coast disrupted flow from the refineries that deliver our gasoline. The Southeast, nationally, now has the highest gas prices.



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