The price of gas goes up regardless of the price of oil. Oil is $86 a barrel gas is at $3.67 a gallon. It used to be around $3.10 a gallon at $86 a barrel. Sooner or later, oil will go back up to $115 a barrel. I'm guessing that will mean $5 a gallon at the pumps. When oil hit $150 a barrel, that must mean $7 a gallon at the pumps.
The oil companies have become experts at gauging. When oil goes down, gas goes down a little. When oil goes up, watch out. When gas hits $10 a gallon, it won't matter because no one will be able to afford to drive anyway.
