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By Jeremy Schiffres, Daily and Sunday Freeman, Kingston, N.Y.

Friday, August 15, 2008

Siphoning our savings

I’ve said it before, but I’ll keep repeating it until I’m blue in the face: We’re being robbed at the gas pump.

The price of crude oil is now down a whopping 24 percent from its recent all-time high, having fallen from roughly $147 to $111 a barrel.

Gasoline, meanwhile – using the Strewart’s Shop closest to my house as a barometer – has fallen a mere 4.7 percent, from $4.19 to $3.99 a gallon.

Given the 24 percent drop in the price of oil, that Stewart’s Shop should be charging $3.18 for a gallon of gas. Any station charging more than that – and let’s face it, every station is charging more than that – should be investigated, and punished, by the state Attorney General’s Office for gouging.



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