- Banned
- #561
The price of a barrel of oil in July 2008 was $145.29
Now gas was $3.64 For July 2011 and the price of a barrel of oil was $94.94
How come oil was $50.34 more expensive in 2008 and yet gas is only .48 cents cheaper?
That is an EXCELLENT question.
For the answer, I would suggest you look into how many refinery closings there have been in the last few years.
Combine that with rampant speculation, and there you have it.