Why gas price has to go up to $4 in places like California? Last time, the oil was traded at 130/barrel, and the gas was around $3.80. Now, oil is trading at $103/barrel, and the gas is more than $3.80. Can somone explain whats going on here?
did gas tax go up? or maybe the “evil oil refiner” fee went up?
Gas taxes actually went down in California. So I would have to attribute this to price gouging. How naive are you?
what about the “evil oil refiner” fee? I think they tried to increase that, not sure if successful.
That did not go through.
It’s the same everywhere. Where I live, gas price was 30% cheaper the last time oil hit $100 (2.5 years ago).
Probably something to do with forward curves. The price of crude oil that people keep talking about is the earliest expiring contract.
$1.11/litre 
(metric system ftw)