Gas Prices Expected To Go Down

PITTSBURGH (KDKA) — Gas prices have jumped 33 cents in the past month, but oil prices are going down.

That means relief for drivers is coming – just not immediately.

“I know that there was a big decrease in the gasoline market yesterday – the biggest decrease that we’ve seen since 2008,” Don Bowers, of Superior Petroleum, said.

But that 25 cent cheaper gas hasn’t made its way to the gas station yet and when it does arrive it won’t exactly be 25 cents cheaper.

Gas stations still have $3.90 gas in the ground.

“We lose money on the way up, we make a little bit on the way down, hoping that the street prices stay where they are for a little while so that we can make some money back that we’ve been losing for the last couple months,” Bowers explained.

He says if the current oil price trend continues, gas prices will go down gradually between now and Memorial Day.

“It might be down another 10 or 20 cents, depending on what the market does,” Bowers said.

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One Comment

  1. Buc-eye says:

    Takes gas station owners just hours ti raise price. However, it takes months for them to drop it??????

  2. Dave says:

    > lose money on the way up.

    BS. As it says, the gas in the ground was bought for $x. The minute oil goes up, the raise the price of gas to $x+increase. So they make money on the way up and down. Since when did the media pander to the gas stations?

  3. What a crock! says:

    Gas stations worry about the $3.90 gas that they have in the ground right now, but they sure as heck don’t worry about raising the prices OVER NIGHT when they have $2.70 gas in the ground!!!! Can someone please explain the problem to me? Why is it OUR problem to pick up the slack here but yet when the table is finally turned, it’s now a whole different story!!! WHATEVER!!!!

    1. Carol says:

      Yes PLEASE explain how the gas in the ground goes up all by itself! I am sick and tired of struggling to pay for this gas. It is always OUR problem, and the CEO’s sit and watch us squirm to pay for it, while they reap the bonus rewards of millions of dollars. The CEO’s won’t be canceling their vacations to the south of France!!!!

      This country is going to fall flat on its face if it continues to rise, small business will suffer, vacations are on hold, the cycle goes on and on. I know my husband and I spent thousands on our 4 grandchildren taking them away last summer on vacations within 300 miles of Pgh and spent money on gas, food, souvenirs for them. I wanted to take the boys to Gettysburg this summer, but not in our plans now. This year, can’t afford it, and it is a pity!!! Our social security hasn’t seen a cost of living increase in 2 years, but food and gas are at an all time high.

  4. Nick Denardo says:

    When they had $3.00 gas in the ground and crude went up they didn’t hesitate to raise prices, but now they claim that there is still $4.00 gas in the the ground and they haven’t bought any gas.

    1. george ritter says:

      that is a lie. as soon as oil goes up, and i mean as soon as oil prices go up, they raise their price. they need to change their price now. regulation should be in place to ensure consumers dont get riped off. i have a plan but to much detail to put in an e-mail. thanks

  5. Carolyn 72 says:

    It has been many weeks now that price gouging has been going on and the oil companies are making money like thieves. The price of fuel in the tanks under the ground does not stay around for weeks so that the stations lose money.As an example I have watched Sheets stations receive shipments about 2 to 3 times a week and the price changes within a very short time.

  6. Simple Man says:

    I believe our government has complete control over this, and they have elected to turn a blind eye in order to make this country dependent on it, thus creating a socialistic environmnent. Afterall, as long as govt services are needed, they have a job. Whatever happened to ‘by the people, for the people?’ I never bought into the gas shortage in the 70s nor do I believe that gas should be $4/gallon. Big government gets involved in every other aspect of our lives, so where are they now??????

    1. Introduction to Economics says:

      @ Simple Man.

      Your comment shows your complete ignorance. Government has no control over the price of oil or gasoline. It is a commodity sold purely on speculation of supply/demand. It doesnt get much more capitalistic than that. I am sick and tired of people who dont know what they are talking about calling their problems “socialistic” just because they dont want to do the legwork or because they dont like black guys running the country. If you dont like the price of gasoline then dont buy it. If you buy it anyway then blame capitalism for the lack of money left in your wallet. Stop getting your information from conservative radio and tv and you will get exponentially more intelligent and properly informed.

      1. boater1959 says:

        Why do ignorant people like yourself allways have to state that a black guy is in the white house.?????
        We don’t care what color he is.. What we care about is the job he is doing.. And let me tell you , as a president and leader of our nation, HE SUCKS.

      2. Dylan says:

        What the hell you talking about our bussiness has control of everything we do and buy. yeah i believe in supply and demand but really the supply is so short we are paying nearly $4 a gallon get real. you need to check yourself because this is a complete conspiricy and everyone is turning a blind eye and the oil companies are getting more rich by the day.

  7. Mell4 says:

    I have seen gas stations change prices while I was filling my tank. So, the customer behind me had to pay additional per gallon. There was no tanker truck with the (higher) priced fuel. So what makes the ” fuel in the ground” more expenseve. Every time the people get a break somebody in “big business” make the decision to put a hold on lowering the prices. Fuel prices control prices on everything DUH, but when there is a break. Pass it along some we can benifit
    since we are the consumers. Just sayin

  8. Mark says:

    Apparently u guys have NO clue how gas pricing works…it takes 6 weeks for the gas stations to reflect the prices on wall street

    1. Cathy says:

      Sure, but they are quick to raise their prices. That’s a bunch of bull. We have a glut of oil and have had for sometime. So, tell me, why are the prices so high? They always have some lame excuse of why it’s going up. Then when you see how much profit they make in a quarter, makes me want to puke. And all at the expense of the American people. If we would just choose 1 day a month and eveyone in America not buy any gas on that day, imagine how much it would hurt the oil companies. Just one day a month. Buy your gas the day before or the day after, put the hurt back where it’s due. Our government won’t help us. I think they are in with the big oil companies.

    2. Richard Jack says:

      Wow, We are just so stupid we can’t reconcile $10 billion profit+government subsidy(us)+”We can’t afford to drop the price”

  9. eric says:

    All the are doing is just proving what everyone else knows! America has lost its way and until we stop acting like greedy children and start acting like grown adults we will get the country one step closer to the end.

  10. Richard Jack says:

    Gasoline should be considered a utility. There is no business sense to overcharging people for something the is a requirement to survival. Isn’t that considered gouging? It’s like strangling somebody and charging them $5.00 for each breath, I should have an MBA…

  11. boater1959 says:

    To the brainiac above that said the Government has no control over oil prices….. Please get informed.. You are showing your ignorance.
    How about, they monitor Wall Street, Take oil off of the commodities market, tap into the strategic reserves, heres an idea……. how about drilling for our own oil… OH nevermind…. the idiot in the white house has placed a moretorium on all drilling..

    Geez…… can’t wait for 2012…. good riddinz to obama the clown and his band of idiots

  12. Mrs. Getting it right says:

    To boater1959… seems to me u are the one who SUCKS. You sound like a racist. Did you think the same thing when Bush was in the seat? Get a life. God is in control of every situation in this life. Whatever he allows to happen will happen. The whole world is in God’s hand. So, i suggest you have alittle talk with him and be more worried about where your soul is going. Now isn’t the time for judging it’s a time for PRAYING. Let’s face it…anyone ( president ) who gets in the seat someone is always going to find fault. Again…GET A LIFE!

Comments are closed.

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