gas futures dropped 50c a gallon this week. when will gas stations lower prices

[Ocelot II]

1. They have to sell the gas they've already paid for in advance.

Gas station owners don't control those prices; they're mostly just independent retailers or franchisees. Only about 5% of all gas stations are owned by the refiners. When they are able to buy gas at the lower price charged them by the refiner which reflects the new lower price of crude, they will be able to reduce the price they charge consumers.