PUMP PATROL: Gas prices remain high despite drop in oil prices. Here’s how long it wi

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PUMP PATROL: Gas prices remain high despite drop in oil prices. Here’s how long it will take for prices to drop.
By: News12 New Jersey - News 12 - 03-30-22
Re: https://newjersey.news12.com/pump-pa...prices-to-drop

Video link: https://newjersey.news12.com/pump-pa...prices-to-drop


PUMP PATROL: Gas prices remain high despite drop in oil prices. Here’s how long it will take for prices to drop.
Mar 30, 2022, 4:16amUpdated 1h ago
By: News 12 Staff

Gas prices remain high despite a drop in U.S. oil prices, and U.S. Secretary of Energy Jennifer Granholm, says prices will be up as long as the Russia-Ukraine war is happening.

Oil prices dropped Tuesday. Granholm gave an explanation as to why we are still not seeing any change at the pump.

"It's called rockets and feathers, meaning when the price goes up, price per barrel, that means your gas station prices go up like a rocket, when the price goes down per barrel, the gas station prices come down like a feather and why is that?" says Granholm. "There is about a 4-week lag between the time the oil price drops and the gas station price drops."
Granholm says gas prices lag behind oil prices because the oil has to go through the refinery process, then pipelines, then to local gas stations.
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Personal note: You mean to tell me they don't already have gas that they
could deliver? This is BS - to me. They are going to milk it as long as they
can to make up their profits they say they lost - which I think is B.S.
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