Oil Prices drop but someone forgot to tell Toledo...

After a brief stint at just under $2.00 a gallon, local motorists were happy yet that didn't last long and the price has been increasing up to well over $2.69 a gallon yesterday. Strange, considering this:

NEW YORK (AP) — Oil prices lost more than $1 a barrel Monday on continued concerns over stock market declines and an indication by an OPEC official that the cartel won't cut production at its next meeting.

Light, sweet crude for April delivery tumbled $1.57 to settle at $60.07 a barrel on the New York Mercantile Exchange. Earlier, the contract dropped as low as $59.55 a barrel, dipping below $60 for the first time since Feb. 28.

Brent crude for April also fell $1.54 to settle at $60.54 a barrel on the ICE Futures exchange in London.

It never ceases to amaze me that prices here go up even when the gas we are pumping today really has nothing to do with the daily price but then when the oil prices go down? It takes several days if at all for the price to start dropping. Even more ironic is we have two refineries in our area and neither is experiencing supply issues...