Date - Oil - Gas0714 - 145.01 - 3.98
0715 - 138.65 - 4.00
0716 - 134.98 - 4.00
0717 - 130.10 - 4.01
0718 - 128.50 - 4.00
By my calculations, that means in the last five days, the price of a barrel of oil has fallen $16.51 a barrel and the average price of a gallon of gas in my area has, in the same five day stretch, increased a total of two cents a gallon.
If it's all "supply and demand" then why hasn't the price of gas fallen at the same rate. the price of gas certain INcreases as fast as the price of oil. Oh I know, there's a whole HOARD of economic, industry, and international factors that I, as an average joe American, is not privvy to.
Yeah. that's actually a load of horseshit. I say again, the problem with the price of oil is that oil company executives are greedy sons-of-bitches out to get their obscene profits by gouging the public at the pumps.
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3 comments:
Your gas has fluctuated by 3 cents. Lucky for you!
Here in Michigan we have the yo-yo effect where the price of gas is jacked up 15 to 20 cents every week just before the weekend so they can cash in on all of the SUV's and regular vehicles going North or to the beaches for a day or two. Then the price drops back down anywhere from 15 to 20 cents in 5 to 7 cent increments over several days until about Thursday when it takes the jump again. This all happens regardless of the price of oil.
Makes me wonder about all of the adjectives used to describe the oil: light sweet crude. Do we have choices to import other types?
Can we go for full or 2% or skim or dark or red or medium...how about a nice rose (like the wine)? And for sweet, do they also have available sour, bitter or salty, or a dry or semi-sweet? And for crude...well, I'm sure a majority of us would prefer things that are less crude, like maybe something smooth or less primitive. It seems like mixing and matching the possibilities for those 3 adjectives that describe oil would give us an endless number of choices although not all would be good for converting to gasoline I suppose.
Anyway, Viva Michigan...two months in a row for 8.5% unemployment. Highest in the nation. If I had a job I'd be scared out of my mind and looking for something outside of Michigan. As it is I can't hardly afford to look for a job here. I just have to plan on buying gas on the right days.
Furry Godfather.
You can't compare the current price of oil to the current price of gas. The oil barrels are bought on the futures market which represent what it will cost to buy oil in about a month. So, you should see a drop in gas in about a month. We'll have to wait and see...and of course that assumes no other outside influences.
Alternatively, the price of gas you're paying right now is based off the price of oil from about a month or more ago.
I'm not doing any defending, but I think you'd find it interesting if you researched the actual profit margin of the oil companies. They are still making about the same percentage wise as they did over the past 10 and 20 years. Yes, they are making more because more oil is being sold and a 5-10% margin on $4 gas is more than $2 gas. But nobody complains about the 150% profit margin on your average soft drink at a restaurant! I know...not the same, but still :)
Just a little food for thought. Most of it still stems from the basics of supply and demand as well as investment speculators.
There's always more to a story than the main stream media will report. Especially stories with so much political impact.
Now, none of that really matters to the average person...especially those on fixed incomes or already living paycheck to paycheck. I just like to know all sides of the story.
Now go out there and enjoy your weekend and stop dwelling on this. Give your brain a break!
Oh, TUG, how I wish what your said were true...especially your first and second paragraphs.
If what you are saying is true, then when oil shoots up $10 or $15 dollars a barrel over a few days, IF what you're saying is true, then we shouldn't see a corresponding increase in gas prices for a month. However, gas prices shoot up days, or the same day, oil prices rise.
I actaully thought it takes three months to get oil from the ground to your gas tank, not just a month, but that really doesn't change the overall arguement.
And yes, speculators do have an awful lot to do with the current high price of oil. The unregulared nature of energies futures needs to stop. The Enron Excpetion that Phil Gramm got put into law needs to go.
However, gas prices going up right after oil and not waiting is clearly nothing but price gouging by the oil companies.
And who can afford to go ANYWHERE and enjoy thier weekend, gas costs too much. :) But I'll stay in, or take a short walk or something, that oughtta work too. :)
HUGS...
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