[bill gibson]

So why aren't prices at the pump 1/2 from their high?

Sure there's a little price built in for transporting, but didn't they have reduced profit margins when gas was over $4/gallon?

 

[bill gibson]

Let's say regular unleaded is $1/gallon when oil was $30/barrel. Since it's $70/barrel, I would think it should be at about $2.20.