If oil prices are down why are gas prices rising?

Oil prices are at record lows. Why are gas prices rising? Is it due to the holiday or something else?If oil prices are down why are gas prices rising?
This a regional issue and has more to do with state taxes %26amp; logistics then the price of oil. I paid a $1.17 gallon in my city 45 min ago, topped off for $20.





Low oil prices in a recovery means industrial growth, and that means millions of jobs %26amp; huge jumps in GDP.





OPEC only controls 32% of the worlds oil, and 40% of its member countries are not in the Islamic world.





The problem with OPEC making production cuts that has slowed them is only Saudi Arabia can afford it as some OPEC members already are down to 50,000 barrels a month, and the bigger problem is that OPEC often makes cuts while members tend to just pump any way defying OPEC.





OPEC only produces 1,380,000 barrels a day already, and the United States consumes 19.6 million barrels per day. OPEC has 32% of the reserves but less then 10% of production, and 4 million barrels a month the current cut is only 125,000 barrels a day. This will not even have physiological impact because reserves being explored in non OPEC nations are increasing 11% a year, and the futures market sets oil prices. A 11% increase is 1/3 of OPEC's total reserve just this year made pointless, and oil was inflated for so long that these falls have been long in the makingIf oil prices are down why are gas prices rising?
They are rising because $47 billion in profits aren't enough for Exxon/Mobil. Gas demand is down, oil prices are down, we are in a recession, and there are no major holidays near. The gas companies are greedy and need to buy that extra Rolls Royce for their 2nd mansions. I hope they rot in hell. Report Abuse

Gas prices have in fact been rising for the past week. They dropped for 3 months consecutively until just last weekend when it began to inch back up.





http://www.consumerenergyreport.com/2008/12/17/price-of-gas-on-the-rise-once-again/





Gas prices usually lag behind oil prices by days, and even weeks.
Average national gas prices are continue to drop - from 1.70 to 1.66 in the last week. See http://www.eia.doe.gov/oil_gas/petroleum鈥?/a>
Gas prices are rising because oil companies have cut their production. It's a dirty way to create a false demand so they can legitimately raise prices.
OPEC is cutting production - thus reducing supply