Great post.
Question: has anyone else noticed that for the last month or so, pump prices have gone down while the price of crude has gone up? Crude went from the high 80’s to the high 90’s per barrel, while the price at the pump has been coming down. We’re buying regular here for $3.19 per gallon, and the price of crude now would justify at least 50 to 70 cents more, based on recent history.
Could the lowered price of NG be putting downward pressure on gasoline? Or perhaps this has something to do with refining?
Could the lowered price of NG be putting downward pressure on gasoline? Or perhaps this has something to do with refining?
The price on NG would have no effect on gas.
If I were to guess the reason for the lower price at the pump would have to do with the ammount of oil in storage, there’s lots of it. The futures market has less to do with abundance than it does with political fears.
The Middle East is very shaky, but we have a glut on hand.