If you've been to the pump lately, you have probably noticed the prices have been up and down in Connecticut. Consumers say the oil companies are the ones making money, hand over fist, but that is not necessarily true.
"Obviously it has to be the oil companies, or somebody in the middle is getting paid and we’re not reaping the benefits," Bill Eihusen, of Manchester, said.
But Jim MacPherson, of the American Automobile Association, said that is not necessarily the case. There are many factors that contribute to the price of gas and they have little or nothing to so the cost of a barrel.
"If we look at the price of gas, less than half of the price of gas can be accounted for crude oil. The rest goes into shipping, the refining, and let’s not forget taxes," MacPherson said.
So it’s tough to pinpoint why gas prices go up or down. Sometimes it’s as a simple as individual gas station owners tinkering with the prices.
"There are huge differences between gas prices for a variety of reasons. In my area for example, if I go two or three miles, I'll see a spread of at least 10 cents a gallon," MacPherson said.
Drivers, meanwhile said they are left to shop around because getting around without gas is just not an option.
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"There's nothing that's going to happen. As long as people pay, the prices are going to go up and unfortunately we all need our vehicles to get to work." Bob Bilafer, of Berlin, said.
According to AAA, there is really no telling where oil or gas prices will go in the future because of our volatile economy.
