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Originally posted by French Toast:

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Originally posted by VIC51:
I saw this on MSN but i also heard that it would take 8 to 10 weeks before us little people that pay for it would see any releif. SO while were being taken to the cleaners WHO is getting to keep the profits??? It only took fifteen minetes to increse the price at the pump so why can the price drop take so long???

Listening to NBC Nightly News discussing the fall in crude oil prices, I heard the comment made that gas station owners don't lower gasoline prices as quickly as they raise them because they try to recoup some of the costs that they couldn't fully pass on to the customers during the increases. For what it's worth.

I am skeptical.... they raise the prices instantly regardless of the price they paid for what is already in their tanks.... then lower VVVVEEEERRRRYYYYY slowly.....

http://biz.yahoo.com/ap/080729/oil_prices.html

Light, sweet crude for September delivery fell $3.36, or 2.69 percent, to $121.37 a barrel in early afternoon trading on the New York Mercantile Exchange. (07/29/08)

U.S. consumers are going to need all the breaks they can get in the upcoming months. All I hear about the prices increases already in the pipeline from price increases at the wholesale level.

Looks like it's going to be a horrific Christmas.