Why haven't gas prices gone down?

[oil pan 4]

$3.05 here in north TX. Probably under $3 further west.

 

[SC Maintenance]

If you’re going to see a lag in consumer spending- and I am not saying we will - you won’t see it for several months. There is always a lag. People run up credit cards. Cut back later. Historically is always this way.

 

[gfh77665]

And so there is no reason for traders to force the price down. The consumers are prepared to pay. Demand is still good. Supply is good.

Then why have prices already came down?

Global supply is increasing sharply as the shipping lanes have reopened.

WTI was at $110 in April, its at $68 right now due to this.

 

[Snagglefoot]

Then why have prices already came down?

Global supply is increasing sharply as the shipping lanes have reopened.

WTI was at $110 in April, its at $68 right now due to this.

I believe the original poster was referring to something like this. Gasoline prices are still about a dollar a gallon more than what they were in mid April. Mods I took this off Gas buddy for a quick review.