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When a barrel of oil goes up, so does gasoline, but not vice versa



Published: Tue, May 17, 2011 @ 12:00 a.m.

When a barrel of oil goes up, so does gasoline, but not vice versa

I noticed the other day that the price of gasoline was increased to $4.09.9 per gallon That struck me as off considering that the oil monopolies tell us that the price of gasoline is governed by supply and demand. Well the price of a barrel of oil had fallen from $115 per barrel to around $97 per barrel. Considering that there are approximately 40 gallons of gasoline in each barrel of oil the price of a gallon of gasoline should have fallen by about 42 cents per gallon. Did that happen? No. The price of gasoline actually went up by 10 cents per gallon.

The oil monopoly tells us that the instability of countries in the Middle East and the availability of oil determines the price of gasoline. I contend that is not true and use the facts in the paragraph above to back up my contention. The truth is actually that since oil is a monopoly the oil companies can charge whatever they want for gasoline. My car will not run on anything but gasoline.

Why is it that greed must always stand in the way of economic improvement? The economy of the United States will never be able to recover while the price of gasoline is so inflated. The oil companies are reporting record profits for the first quarter, but that does not seem to be enough for them.

Their advertisements on television espouse the fact that oil companies are pouring billions of dollars into the economy to improve life for everyone. That is just not true. What they are actually doing is gouging all of us who have to buy gasoline. There are several things we could do to drive the price of gasoline down, but as long as we have the current administration in office nothing will ever happen.

George L. Grim, Boardman

Our pay scales are out of kilter

There is something inher- ently wrong with a society that pays its sports figures more than it pays its policemen, its firemen, its servicemen, its nurses, its teachers and even its Nobel laureates.

We should be ashamed of ourselves.

Gary Barringer, East Liverpool


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