Russ Steele
The current turmoil in the stock market has resulted in a drop in crude prices, but we have yet to see any drop in gas and diesel prices. They are now stable, with the average prices about $1.00 more per gallon at this time last year. When crude is on an upward spiral, the retailers are quick to raise the price of fuel, but when they are on the down side they are much slower to adjust the price. Why, you ask? They lose some profits on the upward spiral and try to regain their losses on the down slope. If crude continues to stay low, there will be some profit taking before we see any slide in prices.
