In San Diego, the price of 87 octane (why buy more expensive?) is about 3.50 today, with oil at 38 a barrel http://www.sandiegogasprices.com/GasPriceSearch.aspx
When oil dropped to 28 a barrel in 2009 we paid 1.91 a gallon. http://justacarguy.blogspot.com/2009/01/ever-wonder-why-some-gas-stations.html
In 2007 oil was 60 a barrel, we paid 2.75 http://justacarguy.blogspot.com/2007/02/60-bucks-barrel-for-oil-from-opec-275.html
Answer.... mysteriously, refineries are having problems when the price of oil gets low enough that the company that wants to keep the price of gas artificially high finds a problem. Right now the nearest refinery to San Diego (torrence/long beach) is shut down.
BP had unexpectedly shutdown the largest of its three crude distillation units (CDU) at its Whiting, Indiana refinery on Saturday, August 8 for unscheduled repair work. http://newsroom.aaa.com/2015/08/midwest-gas-prices-jump-due-to-new-refinery-problem/
An analyst from GasBuddy was quoted saying that, “The Midwest saw gasoline prices plunge after it was reported that BP was looking to bring its Whiting refinery (in Indiana) online in the days ahead.” This senior petroleum analyst went on to say that, “Should this eventually be confirmed, prices could fall through at least Labor Day in the Midwest. On the flip side, motorists in the Northeast should now be on alert after a major fire struck a PBF refinery in Delaware City on Friday. The market hasn’t really had a chance to react, but it could turn ugly at the pump in the days ahead for motorists in that region. Elsewhere, the West Coast saw prices decline, along with the Gulf Coast, East Coast and Rockies- virtually everyone saw gasoline prices fall in the last week.”
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