Re: Questions on gas prices and crude oil prices

Brablo wrote:
I would have thought that there is perfect correlation between the
crude oil prices and the price of gas, but this is far from the case.

1. What other factors affect the price of gas?
2. When the price of gas was very high during Hurricane Katrina's
wake, Exxon made record profits. Why don't they continue with this
strategy, such as make the prices continue to be that high?


You'll notice that when oil is going up the price of gasoline is very elastic, but when oil is coming down, the prices at the pumps are very sticky.
.

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