Posted on 08/27/2014 10:08:02 AM PDT by thackney
I believe crude was 107+ less than 60 days ago, so it is now down $14+ a barrel. Gas should be under 3 dollars, heating oil should be under 2.50, but neither is the case.
It is not a linear relationship. Even if the price of crude were to go to 0 there would still be significant cost to refine it.
I've no idea on the subject; I didn't even stay at a Holiday Inn last night. But, it is the season for such things.
We'll know if I'm right, if there's a significant drop in a few more weeks (after inventories are built up). Not that it helps at all.
Distillates (mostly heating oil and diesel) typically hit a peak in early fall. We are a bit low this year.
Lets see a graph of gas/diesel prices as they relate to election cycles. I bet that would be interesting.
Weekly U.S. All Grades All Formulations Retail Gasoline Prices
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPM0_PTE_NUS_DPG&f=W
Weekly U.S. No 2 Diesel Retail Prices
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMD_EPD2D_PTE_NUS_DPG&f=W
I don’t think you’ll find what you expect. Far too many global events effect the price of oil.
Filled up yesterday in Dallas $3.09. Small convenience store
Shamrock on Gus Thomasson one block N of Ferguson. Cash only,
limit $40.
It’s low because no one has any money to go anywhere or do anything.
Oh that’s good. Maybe the people can eat some of that gasofuel since food prices are so outrageous.
Even at $3 per gallon, gas is still 50 percent more expensive than it was when that evil oil man, George Bush, left office.
Do you miss the economy from that moment in time as well?
Holding steady at $3.98 all summer long,here.
Will probably top $4 for Labor day.
I guess I should be happy with the $3.49 I paid this morning in SW PA.
Easy to make a price graph look rosy when you do 5 cent decrements.
One is priced in barrels, the other in gallons.
The percent range of both scales is the same.
3.42 divided by 93 equals 3.97 divided by 107.93
Well of course it’s cheap for Labor Day. He wants everyone in a good mood when he announces that he’s going to be letting in more illegal immigrant “children” for us to support
If we have another cold winter like last year what do you think will happen to the price of HO futures? Which expiry will have the biggest reaction?
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