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Wolfie00
My dog is an elitist
Premium Member
join:2005-03-12

Wolfie00 to digitalfutur

Premium Member

to digitalfutur

Re: [Rant] Gas prices jumping big time tonight

said by digitalfutur:

Pump prices are directly related to the wholesale price of NYMEX gasoline futures. They have spiked, so pump prices have as well.

»www.eia.gov/dnav/pet/his ··· _DPG&f=D

You don't put oil in your tank.

You don't put gasoline futures in your tank, either!

digitalfutur
Sees More Than Shown
Premium Member
join:2000-07-15
GTA

digitalfutur

Premium Member

Please. That's like saying you don't eat grocery flyers. Surely you can distinguish between the product sold and the manner of its sale.

Prices went up last May to this level, there was a big hooha, and then they fell again, just like they will this time. There are some short term gasoline supply problems right now that will correct themselves in the next month or so.

Juggernaut
Irreverent or irrelevant?
Premium Member
join:2006-09-05
Kelowna, BC

Juggernaut

Premium Member

Short term supply problems? I don't think so.

LazMan
Premium Member
join:2003-03-26
Beverly Hills, CA

LazMan

Premium Member

said by Juggernaut:

Short termArtifical supply problems? I don't think so.

FIFY

Production capacity exists at several refineries in the States - but it's been slowed down, to create an artificial supply problem...

Even analysts I've seen interviewed in the last day or two can't explain this jump, other then profiteering... Oil's been stable, even come down slightly.

I've said it before, and I'll say it again - while generally, government involvement doesn't make anything better, something has to happen - oil companies have never made so much money as they are now - so if the cost at the pump is truly reflective of the increased cost of doing business, why are they setting record profits?

Oh, and I put 105L into my truck at 1.33 before it went up. I've got a bigger tank then most, and a 4.5 cent jump would "only" add a little over 5 bucks on a fill, but it's death by nickels and dimes...

elwoodblues
Elwood Blues
Premium Member
join:2006-08-30
Somewhere in

elwoodblues

Premium Member

said by LazMan:

I've said it before, and I'll say it again - while generally, government involvement doesn't make anything better, something has to happen - oil companies have never made so much money as they are now - so if the cost at the pump is truly reflective of the increased cost of doing business, why are they setting record profits?

Because the cost of pulling oil out from the Arab Nations costs say $50/bbl but they price it at $102 the current market price. (btw Oil is down again so far today)

digitalfutur
Sees More Than Shown
Premium Member
join:2000-07-15
GTA

digitalfutur to LazMan

Premium Member

to LazMan
Have you checked the price of gasoline futures over the past 3 months? Those are contract prices that buyers and sellers base their retail prices on. Like any contract, once signed by both parties, it is legally binding.

»www.theoptionsguide.com/ ··· res.aspx