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Crude Oil back to $74 barrel

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Crude Oil back to $74 barrel
Old October 15th, 2008, 04:59 PM   #1
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Crude Oil back to $74 barrel
So someone please explain again how the pump price of gas should still be $3.25 per gallon.




I'm all ears.
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Old October 15th, 2008, 05:00 PM   #2
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Crack spread.
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Old October 15th, 2008, 05:03 PM   #3
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Our Arab brothers' asses must be puckering right about now. No more chrome plated Ferraris.
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Old October 15th, 2008, 05:03 PM   #4
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I payed $2.65 gas just a couple days ago.
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Old October 15th, 2008, 05:09 PM   #5
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I'm very excited as the cost of doing track upgrades has gone down big time
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Old October 15th, 2008, 05:24 PM   #6
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I'm finally noticing gas going down here, whats odd is I just saw one station at 2.90 and the next one at 3.45 ....haha wtf
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Old October 15th, 2008, 05:26 PM   #7
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Quote:
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Crack spread.


Crack spread + FIFO =$3.25 per gallon ($2.89 here)
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Old October 15th, 2008, 05:30 PM   #8
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Old October 15th, 2008, 05:55 PM   #9
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I wondered the same thing, so I dug into it a little bit. Here's a chart from gasbuddy.com that plots the US average pump price over the last 24 months versus the price per barrel of crude oil.






The interesting thing it shows is that the crude price went up at a much higher rate than the pump price (especially in the last 12 months). Theoretically we should have been paying more than we did at the peak. Now that the crude price is coming down, it's only lining up with the historical price at the pump. Go figure.
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Old October 15th, 2008, 06:05 PM   #10
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Paid $2.33 today...
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Old October 15th, 2008, 06:08 PM   #11
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Paid $2.33 today...
Damn, not here.
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Old October 15th, 2008, 06:29 PM   #12
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Diesel is still outta wack here
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Old October 15th, 2008, 06:41 PM   #13
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I paid $3.49 yesterday.
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Old October 15th, 2008, 07:08 PM   #14
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$2.78 here in western Kansas.
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Old October 15th, 2008, 07:19 PM   #15
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2.85 here

Its not so bad when its this low but will it LAST? Some times I worry about it being a problem due to the current elections..... other times I remember when the Saudi's told OPEC to fudge off!


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Old October 15th, 2008, 09:01 PM   #16
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Old October 15th, 2008, 09:27 PM   #17
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Suck it OPEC, suck it hard.
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Old October 15th, 2008, 10:39 PM   #18
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Peoria AZ. $3.15. Keep it coming.
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Old October 16th, 2008, 12:21 AM   #19
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Lone Jack, MO (or thereabouts) $2.55 for reg, 2.75 for premium.
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Old October 16th, 2008, 12:31 AM   #20
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Lone Jack, MO (or thereabouts) $2.55 for reg, 2.75 for premium.
Your premium is cheaper then my reg
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