Oil Down 50%. Gasoline Up 100%

[Bear12feet]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

 

[edthecynic]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

Because there is no such thing as "Free Market Capitalism." There is only MONOPOLYISM.

 

[Bear12feet]

Because there is no such thing as "Free Market Capitalism." There is only MONOPOLYISM.

This is serious high inflation. Thanks to Obama but everybody is sleeping.

 

[uscitizen]

How do you think the economic growth is happeneing anyway?
The market is saturated so we have to pay more for what we already buy to grow the economy.

 

[Rat in the Hat]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

Because nobody stops the bullshit pricing tactics of the gas stations. Why are they allowed to raise prices on gas they already paid for that's in their tanks? Why does every station in town raise their prices the same amount on the same day?

 

[Bear12feet]

China, India and South America...End thread.

International crude oil price have fallen 50%. Can you understand simple english language?

 

[CoolBreeze]

It's another big oil comspiracy to drain our wallets.

 

[uscitizen]

It's another big oil comspiracy to drain our wallets.

That is where the drill baby drill mantra is taking place, in our wallets.

 

[Conservative]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

Because nobody stops the bullshit pricing tactics of the gas stations. Why are they allowed to raise prices on gas they already paid for that's in their tanks? Why does every station in town raise their prices the same amount on the same day?

Price is set on current market value of a commodity... not what was paid for the current stock. All commodities work this way. Fuel prices are simply more... liquid than most.

Current cost of crude is only 1 factor in the price of refined fuel.

 

[uscitizen]

Yep speculators are a big factor in the price of any commodity like gas or food.

 

[BoycottTheday]

You want to blame someone you have to blame governments, they own most of the chit.

State-Owned Oil Companies vs. the Free Market - WSJ.com

 

[Middleoftheroad]

I think in June 2008, Crude Oil was $147 per barrel.

Today Crude Oil is $83 per barrel.

Why is Gasoline 100% higher when international crude oil price have fallen 50%?

Today Gasoline must be $2 per gallon because international crude oil price have fallen 50%.

your numbers dont really make sense. In 2008 we were also paying over $4 per gallon of gasoline, today i just paid $3.45, that is NOT an increase of 100% it is a decrease of roughly 12%.
Again 147 cut by 50% would be $73.5, not $83, so your title should be oil down 44%, gas only down 12%, but thanks for overly exageratting both numbers.
Furthermore, you cannot blame inflation, because that would also affect the price of oil equally, and you cannot blame increase in demand from china and others, because once again that would increase the price of oil per barrel.
Also there is a three week drag between the time that oil is bought and the time that gas is sold, so we are actually paying right now what oil was sold at 3 weeks ago, which was $95. The only part that I see as a real problem is that it takes 3 weeks for the price of gas to go down but only about 3 hours for it to go up, this basically get rid of any lows in gas prices. I'm not sure why this happens, I just know that it does, and it should be investigated.

 

[KissMy]

Obama raised the price to get you to buy an electric from government motors.

You got the communism you voted for.

 

[Bear12feet]

World oil production for year 2010 was 30 billions barrels.

World Annual Oil Production (1900-2009) and Peak Oil (2010)

Some 7 billion tonnes of coal is produced worldwide per year.

coal mining, coal production - World Coal Association

Experts say there will be 1 billion automobiles/vehicles in the world by year 2020.

There are 1,400 Giant Boeing 747 planes flying all over the world and a 747 plane burns some 65,000 gallons fuel everyday.

My calculations says 19 Billion barrels oil is consumed every year by planes, ships, boats/yachts. This includes military and commercial planes and ships.

Post from FightTheFuture:

Only 2 billion bushels of corn are being exported, and 5 billion being burned. There is enough corn being burned in the US to feed 1 Billion people every year.

And burning ethanol is for what exactly? For each gallon of ethanol produced, one gallon of petroleum is consumed for distillation, transport, fertilizer, etc.

Field corn has 2400 calories per pound. 58 lbs per bushel = 139,200 cal per bushel. 2000 cal per day required per person.

1 bushel feeds one person for 70 days. need 5.2 bushels per year per person

USDA estimates for the marketing year of 2010-2011, 4.9 billion bushels of corn will be used for ethanol production

4.9 billion/5.2 = 942,307,692 people.

O Baby O Baby everything you need.

 

[Bear12feet]

Obama raised the price to get you to buy an electric from government motors. You got the communism you voted for.

There is definately some manipulation going on in gasoline price and crude oil price.

 

[Common_Tater]

And in corn apparently.

 

[KissMy]

Obama raised the price to get you to buy an electric from government motors. You got the communism you voted for.

There is definately some manipulation going on in gasoline price and crude oil price.

The oil price you see quoted in the US is the West Texas Intermediate price (WTI) The bulk of our gasoline & fuel comes from Oman, Bonny Light, Isthmus, Brent or some other region. Those prices are now $23 higher than the WTI you see on the news. If anything is manipulated it is our headline crude oil prices are manipulated lower to make consumers feel good so they will spend more. Just because the news says oil price is $82, the reality is we are paying about $105 a barrel for oil.

Brent-WTI oil price differential widens

 

[Conservative]

Obama raised the price to get you to buy an electric from government motors.

You got the communism you voted for.

Link to a credible source showing that ANY president can set the price of gas, please?

 

[Bear12feet]

The reality is we are paying about $107 a barrel for oil.

If today USA pays $107 for a barrel of oil when a barrel of oil is $85 then

what was USA paying when oil was $147 per barrel 3 years back?

 

[KissMy]

The reality is we are paying about $107 a barrel for oil.

If today USA pays $107 for a barrel of oil when a barrel of oil is $85 then

what was USA paying when oil was $147 per barrel 3 years back?

We were paying about $141 barrel at the peak per 3 years back when the WTI headline number showed $147.