Current fuel prices in Kenya?

Please check my math. Ok if right now oil prices are around 78 a barrel why is fuel $3 a gallon?

• Oil price since april have averaged around 70 a barrel and a gallon of fuel averaged about 2.65 a gallon. Ok now oil is at 78 a barrel and fuel is at 3 a gallon. Now if my math is corects that is a 10% increase and would be an addional 27 cents. So gas should be 2.92 a gallon at a maximum. Now there is addional costs to refine fuels. Most of which are a flat amount on a gallon of fuel and shouldn't raise with the price of crude. So fuel shouldn't go up 10%. Ok here is where the question is: $70 a barrel the cost of a gallon of crude is $1.28 and a gallon of fuel is $2.65 and has a difference of $1.37 for processing. At $78 a barrel the cost of a gallon of crude is $1.42 a gallon and is $3.00 a gallon of fuel with a difference of 1.58 for processing. So why is there a 21 cent difference in the refining price? Shouldn't it be the same? Crude oil price only went up 14 cents per gallon. Shouldn't fuel of matched it and not raised above it? So shouldn't fuel should be at 2.79 a gallon

• Answer:

  Ah, you left out "supply and demand". The world is convinced we will be without fuel within months due to the wars, and since now is when most Americans do their vacationing they demand more fuel and believe less is being supplied, and thusly the rates go up...but remember, just because the gas companies are having record profits this year and last, there's no gouging taking place....wow, did you see that? That bolt of lightening almost hit me!! :D