I can really only report what my eyes have observed the last 10 days here, and I think I've pointed out that a big portion of the local population is actually happy when oil rises and don't mind a bit paying more to fill up their Lexus, Cadillacs, and 100K pickups, since the county is #1 oil producing in the State.
However, the gas prices are set by basically 2 entities, Kroger and a local big convenience store chain. Kroger has actually been instructed by corporate to follow the convenience store changes, I'm told.
In the last 10 days, they went up $.20 twice, then back down $.21, and back up to $3.99. It had been $3.59 at the beginning of that yo-yo. You can't tell me that is following their costs absolutely.
I guess some of you guys can better figure if the gas prices really correlate to a jump in crude oil from around $70/barrel at the end of January to $102, which is what the web says it is today.