In light of the fact that the bottom has been dropping out of Oil Prices lately (sending the stock market into a virtual freefall), I wonder why Gas Prices are not even lower than they currently are. Percentage wise, they have not dropped like oil prices have. It makes me wonder if the big oil companies are making up for their losses in the oil slide by keeping prices for gasoline artificially high. And, no, you can’t Buy Gas for less than a dollar a gallon, despite what the media may claim. Most people have heard about that town in Michigan where you can supposedly buy gas for 47 cents a gallon.
If you believe that, I have some oceanfront property in Kansas that you might be interested in. That’s nothing but media deceit at its worst. Sure, there might have been one gas station in that town selling gas for 47 cents a gallon as a result of a one-day price war. But, rest assured, you are not going to be able to buy gas for that price anywhere in the U.S. In fact, the National Average for a gallon of gas is $1.86 as of this writing. Here in Virginia, it sits at around $1.67 a gallon. Based on the current price of oil, the national average should be just above a dollar. We should demand to know why that’s not the case.