Oil is half the price it was when oil hit its high. So why is gas already 3/4 as high as it was then? Reg unleaded here is up to $ 2.95 a gallon. What a rip off. I have my guesses: 1. Less competition. We have alot of "Speedway" gas stations. As soon as they all raise their proces other stations raise their price too. 2. So many stations are now stores too that they don't have to get into gas wars with other stations becaue their profit is from the store items.