['97ventureowner]

Originally Posted by gatoratoy227

yeah sorry to get off topic here but the price of oil is $90 a barrel and in theroy that should mean the gas prices should be around $1.50- 1.75

ha ha go figure right?

Not really. IIRC, when gas was $1.50 to $1.75/ gal, the price of a barrel of oil was probably in the $40 to $45 range. I remember not too long ago,(or so it seems ) when oil hovered around $25 to $30 a barrel and when it started to rise , at a not-so-fast-pace as it's has done recently, much press was given everytime it reached a new "benchmark",( about every $5 higher.)Back then a raise of $1.00 in the price of a barrel of crude would elicit the same response back then as a $10 rise today :. It's amazing how fast the price has risen over the years going from say 420-$25/barrel, then 30, then 35,40,50, then suddenly were over $100 a barrel in no time, (with predictions last Spring of potential prices over $200/barrel by the end of this year.
Also back then there was less speculation in the oil market and things like natural disasters(or even the threat of), or other things like refinery fires didn't affect the price of gas so much and so quickly as it does now. It seems now as if one of the OPEC ministers sneezes, the price of gas goes up ten cents a gallon, or there are some "suspect" clouds out in the Atlantic Ocean-might be a future hurricane, better raise the price now in case there is damage to the supply lines, etc. mentality in the oil industry. And we all end up paying for it. : ( sorry for the rant )