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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Tell me why
Posted by:
Whyisit...
()
Date: September 11, 2008 10:09AM
Why is it that oil is trading at around $103 a barrell and gas prices are averaging around $3.50 a gallon - regular
Last time oil traded at $103 a barrell gas prices were averaging $3.15 a gallon.
Tell me why gas is not back down to $3.15??
Last time oil traded at $103 a barrell gas prices were averaging $3.15 a gallon.
Tell me why gas is not back down to $3.15??
Re: Tell me why
Posted by:
WashingToneLocian
()
Date: September 11, 2008 10:16AM
Whyisit... Wrote:
-------------------------------------------------------
> Why is it that oil is trading at around $103 a
> barrell and gas prices are averaging around $3.50
> a gallon - regular
>
> Last time oil traded at $103 a barrell gas prices
> were averaging $3.15 a gallon.
>
> Tell me why gas is not back down to $3.15??
While I hate Big Oil and think speculators have been riding shotgun over the markets, I will say in defense of the market that gas is $3.50 a gallon because it was refined several weeks ago when oil was more expensive. The cost savings from lower oil prices will hit the pump in the coming weeks.
Then, after the election, the speculators will fuck you again until President Obama (hopefully) kicks the CFTC in the ass and makes it enforce its regulations.
-------------------------------------------------------
> Why is it that oil is trading at around $103 a
> barrell and gas prices are averaging around $3.50
> a gallon - regular
>
> Last time oil traded at $103 a barrell gas prices
> were averaging $3.15 a gallon.
>
> Tell me why gas is not back down to $3.15??
While I hate Big Oil and think speculators have been riding shotgun over the markets, I will say in defense of the market that gas is $3.50 a gallon because it was refined several weeks ago when oil was more expensive. The cost savings from lower oil prices will hit the pump in the coming weeks.
Then, after the election, the speculators will fuck you again until President Obama (hopefully) kicks the CFTC in the ass and makes it enforce its regulations.
Re: Tell me why
Posted by:
pgens
()
Date: September 11, 2008 10:48AM
The way it always works is a spike in oil prices causes gasoline to jump, with oil companies arguing that hey, costs went up and there is nothing to be done about it.
Then when oil prices drop, oil companies say hey, all that high-cost oil is still in the pipeline and when we use it up we'll be on the cheap stuff and gasoline will go down.
Actually this time around the gasoline prices did take a little longer to start to spike after oil prices spiked. In the past the practice of playing the "float" was more obvious.
Then when oil prices drop, oil companies say hey, all that high-cost oil is still in the pipeline and when we use it up we'll be on the cheap stuff and gasoline will go down.
Actually this time around the gasoline prices did take a little longer to start to spike after oil prices spiked. In the past the practice of playing the "float" was more obvious.
Re: Tell me why
Posted by:
Kiev
()
Date: September 11, 2008 11:33AM
Remember - everything we pay for, like good and stuff- still priced at 4.30$ prices.
Even tho you might be paying less at the pump - noone is lowering food prices.
Even tho you might be paying less at the pump - noone is lowering food prices.