Oil prices fall, pump prices don't

Oil prices fall, pump prices don't

There are 68 comments on the WOOD-TV Grand Rapids and Michigan story from May 28, 2008, titled Oil prices fall, pump prices don't. In it, WOOD-TV Grand Rapids and Michigan reports that:

Though the price of a barrel of oil dropped below $126 Wednesday, the price of a gallon of gas has not dropped at the same rate.

Join the discussion below, or Read more at WOOD-TV Grand Rapids and Michigan.

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BwHunter2

United States

#1 May 28, 2008
Our government ALLOWED the 2 of the largest oil companies to MERGE---What did they think Exxon-Mobil would do when they controlled the market. The people who are supposed to "represent " us set up the biggest monolopy in decades and do nothing. Admit your wrong in Washington and break this union. Remeber the break up of the 'Bells?
Mike

Grand Rapids, MI

#3 May 28, 2008
Of course there's more to it than just supply and demand. Its these damn futures traders, oil companies and oil refineries. Those bastards are making hundreds of millions of dollars at our expense. Since people are obviously willing to pay $4/gallon they are gonna try to take it to $5 and see what happens next. Im still trying to figure out why no one has built a new refinery since the 70's. Obviously there are way more cars on the road today then there were back then but the amount of gas that is being refined has not increased proportionately.
A name

AOL

#4 May 28, 2008
Swinging Sirloin wrote:
The price goes up like a rocket and comes down like a balloon
I agree totally!
lopez

Ann Arbor, MI

#5 May 28, 2008
Let drill for oil in lake michigan, and that would solve the problem.
A name

AOL

#6 May 28, 2008
lopez wrote:
Let drill for oil in lake michigan, and that would solve the problem.
Thats a good one. Like your comment.
Rick

United States

#7 May 28, 2008
Tha's like cutting off your nose spite your face!
A name wrote:
<quoted text>
Thats a good one. Like your comment.
Mike

American Fork, UT

#8 May 28, 2008
According to the CEO of Exxon there are 83 million barrels of oil produced daily and we (the world) currently use 87 million, they have yet to explain how the 4 million barrel per day lack of oil is made up for being that we use 4 million barrels of something that could not be produced.
I wonder what they will do when the demand drops by alternate fuel vehicles such as hybrids, hyrdogen fuel cell and electric cars? The logic they have been using is the demand sets the price...so if we drop to say 70 million barrels a day creating an oil glut will we see prices drop below a dollar per gallon?....not bloody likely folks. They have us over a barrel (pun intended) and so long as we need fossil fuels they will soak us for all its worth.
John M

Rockford, MI

#9 May 28, 2008
Just a blantet case of the upper crust thinking the poor are too stupid to figure it out and by the time they do we will all be the richer and who cares anyways it is not like a rich person ever will see true justice in our court system. We all know by now there are two sets of laws a set for the poor which means imprisonment and heavy fines they know that we as poor do not have. hen there is the laws for the rich which pretty much means you can get away with anything including murder as long as your victims are poor because it is not like oour justice systems give a rat's azz about us anyway.
Marcus V

Aurora, CO

#10 May 28, 2008
I think it's time we start looking to US soil for oil. I understand that most of our oil comes from Canada, and a little from the Middle East. But why can't we be more self sufficient? On top of that, wouldn't it create more jobs in the US? The Caribou and other animals can wait a little bit until we come up with an cost effective, clean, alternative fuel..
BRUCE

Riverside, CA

#11 May 28, 2008
Has any one noticed that none, I REPEAT NONE, of the Dem's or Republicians from this state have made mention, or made any effort, to help increase production of energy resources for the US. There is no plan for more oil production, more refineries, or more coal usage, I think its time to flush Vern Ealers andthe rest of them, and start over with people who have their heads screw on streight. Obama and Mc Cain are no better. i wish there was a slot at the voting booth with " none of the above" listed
BRUCE

Riverside, CA

#12 May 28, 2008
Mike wrote:
Of course there's more to it than just supply and demand. Its these damn futures traders, oil companies and oil refineries. Those bastards are making hundreds of millions of dollars at our expense. Since people are obviously willing to pay $4/gallon they are gonna try to take it to $5 and see what happens next. Im still trying to figure out why no one has built a new refinery since the 70's. Obviously there are way more cars on the road today then there were back then but the amount of gas that is being refined has not increased proportionately.
The Dem's mandated a moritorium on off shore drilling building refineries and drilling in ANWAR in 1972 does that answer your question?
Johnny Wockenfuss

Boulder, CO

#14 May 28, 2008
Marcus V wrote:
I think it's time we start looking to US soil for oil. I understand that most of our oil comes from Canada, and a little from the Middle East. But why can't we be more self sufficient? On top of that, wouldn't it create more jobs in the US? The Caribou and other animals can wait a little bit until we come up with an cost effective, clean, alternative fuel..
Sure, tear up Alaska to ensure that we have $4/gallon gas for the next 10 years, then what? We're still stuck using internal combustion, a 100-year-old technology, and prices skyrocket again after we've drained another natural resource.

It's the boy with his finger in the dike...it's just a stopgap, and with more oil, it would take away any motivation by the energy companies to develop alternate fuels (why bother when you're already setting a new record profit every quarter?).

At the risk of sounding like a tree-hugging hippie, this is a wake-up call to get going on one of the many new fuel technologies, which by the way, also creates jobs and doesn't bother the caribou :). Unfortunately, it may bankrupt us all first!
chuckufarley

Grand Rapids, MI

#15 May 28, 2008
And the big oil companies are laughing all the way to the bank.
bleachblonde44

Ogden, UT

#16 May 28, 2008
I feel it's all a scam. Someone is making a profit and as I understand companies are making record profits at the price of we Americans. I also don't feel it's just the middle east but but our own oil companies taking advantage of us. Remember 911 when the prices jumped that day? The govenor stepped up to the plate. Where are the politicians now? I'm a single WORKING parent and it is hard enough to make ends meet.
mibluefan

Granbury, TX

#18 May 28, 2008
They can regulate what the farmers sell us they can regulate the phone industry-they can regulate cable hmmmmmm I guess when some of the big wigs in washington are being paid big oil company profits then why should they bother regulating the price of gas....Oh and to the person that made the comment that "all the blacks are stealing gas" you are sick and that post should be removed.
Tax Payer

Grand Rapids, MI

#19 May 28, 2008
I heard a good idea today. Our government collects taxes from all of us to serve us. We are not being represented as the working class tax payer. Maybe we should all claim exempt for a month or so and see if the Bush administration and congress takes a action on that. Perhaps the tax payers in this country need to send a message to OUR representatives about how we feel about the action they are taking on our interests. It's time for the tax payers to get what we pay for not the big oil companies
Tonia

Battle Creek, MI

#20 May 28, 2008
where is our american spirt? isnt anyone going to protest this? im confused! And i think everyone else is confused too! no one knows where to turn. Or what to do! My father is a truck driver..and he said he filled his tank up and i cost him $1500! Someone help me find the answers!:(
Oil Sucks

Grand Rapids, MI

#21 May 28, 2008
It is a shame that while the oil companies are getting richer the rest of us are getting poorer! Even sadder still is that the politicians are supported by the oil companies so they are less likely to stop them from taking advantage of us all. Their day will come! Soon all of them will be poor and if we are lucky no one will cut them a break! There will come a day when we will not rely on oil and then they will be screwed! Honestly I'd like to know how the oil execs can sleep at night knowing that they are taking advantage on the average hard working American worker! They are all going to burn in hell!
tammie_tucker

United States

#22 May 28, 2008
I THINK THE PRICE OF GAS IS GOING TO GO UP SO HIGH THAT IS IS GOING TO BE MORE THEN WHAT WE MAKE A HOUR, AND PEOPLE LIKE US THAT ARE LIVING IN A AREA WERE THE ECONOMY SUCKS ,IT IS HURTING PEOPLE LIKE US.
CAT5e

Schuylkill Haven, PA

#23 May 28, 2008
I heard in the UK the truckers decided on a strike wonder if they might try that here ?

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