Oil prices have collapsed in recent months, plunging from a high around $100 a barrel down to $30.
That's great news for us at the gas pump (though prices are edging up a bit again).
But have you noticed? Prices haven't dropped on many products made with oil.
Where's the Savings?
With the price of gas below $2 this winter a fill-up costs almost half of what it did a few years ago.
Airlines are also enjoying cheaper fillups of their big jets.
But airfares haven't fallen much. Hmm.
Tire manufacturers blamed high oil prices for their recent price hikes, sending an average tire well over $100 the past few years..
But tire prices haven't fallen. Hmm.
And the price of motor oil in the auto parts store jumped to $6 and $7 dollars a quart the past few years.
But the price of motor oil has not dropped, despite crude oil falling 50%. Hmm again.
Fuel Surcharges Remain
And from the doesn't that stink file, the those annoying fuel surcharges from shipping services and the garbage man.
We understood them 2 years ago.
Most people don't anymore....which may have you saying "doesn't that stink."
Service providers say they keep them in case gas prices spike again....and say they are lower than they've been in years. Again, hmmm.
Bottom line: When oil prices spike, prices you and I pay rise quickly.
But as prices fall....it takes much longer for the benefits to trickle down.
As always, don't waste your money.
Don't Waste Your Money is a registered trademark of the EW Scripps Co.“
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