Price goes up — and stays there

The above link is a story about how the price of oil has plunged 20 percent since early May.

Is that a surprise to you? It was to me.

It never fails to amaze me how the price of gasoline somehow, mysteriously, doesn’t move as quickly downward as it does upward. When the price of crude spikes up, Amarillo gasoline dealers are oh, so very quick to increase the price at the pump instantly, or so it seems. Oh, but when the price of oil nosedives — which the Associated Press says has happened — the price stays up.

The pump price has lingered at $2.79 per gallon, or thereabout, for as long as I can remember.

What goes up, then, doesn’t necessarily come down.