OK, so a couple of weeks ago, when oil topped $75 a barrel gas prices went up from $2.66 to $2.86, in one day. I use premium so I am blessed with $3.06 gas. So I just read that oil has been stedily coming down and is now below $70 a barrel. Anyone want to guess what the gas prices are around here? If you guessed $2.86, you are right. They haven’t dropped a cent though the oil prices have dropped 6%.
Anyone, doubt we are getting anally raped still? Is this still normal profit margin, supply and demand crap?
The supply/demand crowd has not addressed the fact that there is not a supply problam and hasn’t been this whole time. Second, the rate of govenment taxation on gas hasn’t changed, so who is raising our prices and KEEPING THEM THERE? OPEC and the oil assholes that’s who. Let’s take one for the team so these sand-sucking shieks and their oil company exec. pets can ride us like a bucking bronco and no reach around to boot…
[quote]pat36 wrote:
OK, so a couple of weeks ago, when oil topped $75 a barrel gas prices went up from $2.66 to $2.86, in one day. I use premium so I am blessed with $3.06 gas. So I just read that oil has been stedily coming down and is now below $70 a barrel. Anyone want to guess what the gas prices are around here? If you guessed $2.86, you are right. They haven’t dropped a cent though the oil prices have dropped 6%.
Anyone, doubt we are getting anally raped still? Is this still normal profit margin, supply and demand crap?
The supply/demand crowd has not addressed the fact that there is not a supply problam and hasn’t been this whole time. Second, the rate of govenment taxation on gas hasn’t changed, so who is raising our prices and KEEPING THEM THERE? OPEC and the oil assholes that’s who. Let’s take one for the team so these sand-sucking shieks and their oil company exec. pets can ride us like a bucking bronco and no reach around to boot…[/quote]
So do you read the news? OPEC hasn’t changed anything. They’re not raising prices, and they haven’t cut down production. Supply is rising.
So do you read the news? OPEC hasn’t changed anything. They’re not raising prices, and they haven’t cut down production. Supply is rising.[/quote]
Supplies are rising in part because of inverted futures – in other words, futures prices are more expensive than current prices, which means companies are incented to sit on inventory.
There’s a whole lot of speculation going on in the oil market.
But don’t forget that oil and gas are two different markets. Gas needs to be refined, formulated according to local and national rules and shipped - the markets are correlated, obviously, but they are still different.
I’ve only been keeping the bottom half of my tank full this past week since seeing the price of oil drop, anticipating that it will only be a week or two till the price comes down a little. Not that I can afford to buy more than half a tank with gas at $3.55/gal.