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Gas Prices vs. Oil Price Save Email Print
Posted: 5:10 PM Sep 5, 2008
Last Updated: 7:44 PM Sep 5, 2008
Reporter: Chris Sutter
Email Address: Chris.Sutter@wilx.com

A | A | A

Over the course of the past year, we've heard the complaints.

"20 dollars doesn't even give me a full tank. I fill up on 45 dollars," Lansing resident Samyah Abdulla says.

We've even heard the horror stories.

"A lot of people are choosing between eating and getting to work," Lansing resident Norma Coryell says.

Perhaps,finally, some relief at the pump comes with news of the prices of a barrel of oil dropping to 106 dollars. The thought of relief seems completely valid based on the news...right? Wrong. Prices have gone up this week from last by nearly 15 cents, leaving nearly everyone wondering why.

"If it's down then why are we still paying the high prices?" Abdulla asks.

The President of the Michigan Petroleum Association, Mark Griffin, says he has the answer.

"The primary reason is that while barrels of oil have come down 27, almost 28 percent in cost, the cost big oil retailers are charging gas stations has only come down 11 percent," Griffin says.

Griffin adds that wasn't the case last Spring when a barrel of oil was also going for 106 dollars. At that time though gas prices for motorists were just $3.25, which has a lot of people wondering where to place their blame.

Griffin says you probably shouldn't blame your local gas station for their high prices because they're actually losing money on the gas too.

"They're losing probably a nickel a gallon on gas right now," Griffin says.

But as for the question, who's fault is this? Griffin says the big oil companies.

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Posted by: Dave Location: Lansing on Oct 17, 2008 at 07:32 AM
Big oil continues to gouge the consumer. Wholesale gas prices this morning (10/17) were around $2.05. If you add the seventy-or-so cents which is the normal margin between wholesale and pump prices, we should be paying no more than $2.80 a gallon. I agree that we shouldn't blame the local station owner, but we need to put more pressure on big oil, maybe even to the extent that their wholesale margins should be capped. We should probably be increasing our severance taxes on drilling land leases and we certainly should NOT be giving them any more tax breaks: Put that money back into the economy through lower taxes to what there is left of the middle class.

Posted by: Scott Location: Florida on Oct 10, 2008 at 02:18 PM
Gas in Florida, Sumter County on I-75 is 3.35. Down from last weeks price of 3.59.

Posted by: Mark Location: Niagara Falls, NY on Oct 9, 2008 at 12:29 PM
Gas in Niagara Falls, NY is still 3.679 a gallon. If I drive 50 miles to the Indian Reservation, I can pay 3.07...but to do that, I would waste 4 gallons of gas, is it really worth the $14 to save $9 on a full tank of gas..NOPE

Posted by: Gordon Location: Tx on Oct 7, 2008 at 12:49 PM
Gas today in Gregory, Tx is $2.82

Posted by: Jon Rambo Location: Onondaga on Sep 16, 2008 at 12:08 PM
The big oil has been greedy all along, but the real problem is the fact that both Republicans and Democrats want it high even to the point of depression for the economy. Most of them are no doubt making money off big oil anyway.

Posted by: Gordon Location: Texas on Sep 16, 2008 at 12:05 PM
You guys really have no idea has bad you are getting screwed from the local big oil companies. They throw a media scare into the shortage of crude oil from a hurricane and all heck breaks lose. In Gregory, Tx (10 miles north of Corpus Christi, Tx.) the price last week before the storm was $3.44 for unleaded and after the storm the price only rose to $3.55 a gallon. I think the state of Michigan better open their eyes and look at the pumps and determine that major uniform pricing fixing is in play. But with Gov. Granholm at the helm, nothing will get done as usual. The price difference from 2000 to 2007 has usually only differed about $.10 a gallon.

Posted by: Scott Location: Florida on Sep 13, 2008 at 11:39 AM
Why don't you ask your democrat controlled congress and senate why they don't do something about it instead of blaming Bush? He lifted the oil ban, but congress refuses to vote on it and drill, even at $10 a gallon. If you don't think its congress' fault, watch C-SPAN and you can see the pain they keep inflicting.

Posted by: Tim Location: croswell, mi on Sep 10, 2008 at 11:55 AM
Our economy is failing and we are impacted by fuel from groceries to heat. If fuel was $3.25 last time oil was at this level and record profits are reported by oil companies why do we keep suffering? What is our corrupt government at both state and federal going to do about it? Fannie and Freddie failed and they took over but Exxon, mobile and other oil companies extort money from a starving and failing world and all is good. What next and what are we going to do? I had a foreclosure because job loss and now can’t get credit for economical car and this I the only solution the overpaid elected officials have. They offer a $2500.00 credit if I buy a $25,000 car Hybrid. That’s great if you can get a loan but what if you can’t. In the United States the poor keep getting poorer and the rich keep getting richer. Let’s take all the money from the people that caused the failures and invest it in alternate energy. I even purchased a windmill and am trying to sell but economy so bad we can’t.

Posted by: tom Location: jackson on Sep 6, 2008 at 09:13 PM
Greed destroys and have greedy oil companies destroyed many lives all over the world.Ask them if they care about all the trouble they have caused?Of course they don't have a clue to what we are talking about.Does not any one want to stand up to big oil?No it can't be done.As bush leaves office a much richer man and many of his friends have made very well also.We can only expect what?I don't see any one running for office to be able to do a thing about high gas prices because money takes care of money and the rich oil ones have donnated well to thoes running.Both sides of the fence has been well greased for future profits.Sooner than not I'm sure god will be dealing with them and it won't be to there likeing.Untill then god help us all.

WILX Poll
Should The Government Have A Stake In The Big 3?

Yes
No


Expert: Big 3 Failure Would Be Disaster
Expert: Big 3 Failure Would Be Disaster
  • Posted By: craigIf anyone in power was really concerned with helping people of lesser means we would be talking about bring jobs back to the USA where we can prosper and be proud of hard work again. how about a bailout for the countless unemployed AMERICANS, or parents on the brink of disaster that will last a lifetime.
  • Posted By: craiggovernment should help automakers at this point, however to say they (auto makers) are not responsible for the recession is absurd. how many more jobs can they push overseas before there will be no one left to purchase their products anyhow?
  • Posted By: BuzzWhy should the Big 3 be bailed out? GM wants to sell off our discontinue the Saturn, which is affordable but has made no mention of discontinuing the Corvette and other less affordable models. If GM wants help have them pick one particular model in each of its lines, i.e. the Lacrosse for Buick, Impala for Chevrolet and the Aura for Saturn. GM is about as impervious as the out-going President is - they just don't get it! I read and sympathize with the line workers who say they can't even afford to buy a new car from the company that they work for - that's pretty sad and certainly doesn't promote company solidarity. Like I've said before, make the Big 3 sell what's sitting at all the dealerships even if they have to take a loss before making another automobile. Why keep making what nobody wants at prices nobody wants to pay?
  • Posted By: BethThe Big 3 failure would be a major disaster - I agree. However, I don't feel that the government or tax payers should bail them out until they have made the same kinds of concessions that citizens, small business, and union members have already made. Begin by severely downsizing the execs and their benefits i.e. luxuries. Times are tough and they should share in the "recession life style" is part of the reason for decreased car sales. I need a newer car badly, but it's not on my shopping list any time soon. They are flying and driving nice cars. Get real! The union members have suffered considerable cuts already including loss of workers, benefits and wages. Make equal cuts in management, wages, and benefits, then look at union members' additional concessions, and financial aide from the government.
  • Posted By: jonlike i said we the workers will and are getting hurt.they gain we lose
  • Posted By: METhank you UAW, if the union would not have barganed until the big 3 couldn't afford it any more we would all be able to afford nice cars. I was in the union before and it definently isnt all peaches and cream. Sure they will fight to get you more but look what it has done.. Workers recieved more then the company could afford and now more may lose everything. Thanks again UAW. It is flat out B.S. that the government will bail out huge corporations but only give the autos a loan. Its all for the politicians gain, main street America has been hurting alot longer then wall street, but wall street affected the politicians pocket so they did something about it. Mr & Mrs politician help us out, cut your pay & benefits.......quit cutting ours.
  • Posted By: LegallyRadTo Explain: If the banks were not bailed out, that would have affected the big 3, and every other business that deals with the banks (show me one that doesn't). This has nothing to do with Bush. Big 3 are very poorly run, and concede too much to organized labor. The bail out will first be essentially worthless since it will amount to a drop in a bucket, and the companies just blow cash. They need to fail to preserve our American capitalistic economy. Chances are only one or two of them will go out of business, but if they properly restructure then they could be saved... restructuring means cutting labor costs and consolidating products. If you want to blame something, it's mostly due to the mortgage crisis which began with Carter and Clinton who refused to allow banks to ensure that people could actually pay for their loans because they felt it might be discrimination. Look where that policy got us. Bush just happens to be in office when their poorly built floor calapsed.
  • Posted By: MicheleI cannot believe that they are not going to bail out the Big 3.Ford is not even sure it is going to need the money. And why do the banks get bailouts with no questions asked but they make the Big 3 jump through hoops of fire and all they want to do is borrow the money...... Reid is an idiot, and doesn't have a clue of how manufacturing works and what the ramifications down the road will be. Including restraurant, stores, and other service industries closing and going out of business due to lack of business. Let's keep America working!
  • Posted By: George Bush did not run our country in the ditch. He crash it stright into the wall at 100/mph.
  • Posted By: patthis is one more reason we need to thank George Bush for running our country into the ditch!

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