>Why is it that as soon as the price of oil goes up, it goes up at the pump immediately, supposedly because they forecast what it will cost them to replenish their stocks. But, when it goes down, as it did today, prices don't go down immediately as well since replenishing their stocks will cost less?
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>http://biz.yahoo.com/ap/080929/oil_prices.html

What is the real mystery to me is;

How come petrol cost 1.10 EURO / Liter here, while you pay it $3.63 per galon there.
That would be 4.4euros per gallon. (Is that 7$ already ?)

Is it that Europeans rafineries are just so inneficient that they cannot produce it any cheaper starting from
crude price or there is something else involved here.