I don't understand economics.

[85_SS_302_Coupe]

So, the Dow and all that crap is falling like the hair out of my head, yet amazingly oil has dropped to below $90 a barrel...and yet gas is still ~$3.60 a gallon.

They tell us oil prices dictate gas prices, yet when oil prices drop, gas prices stay the same.

All the while, the oil companies are raking in the money faster than just about any other business on Earth. Wall Street crashes, and the 'gov steps in and bails them out. I wonder if they would do the same thing for the oil companies if something were to happen and cause a similar situation for them?

[cstreu1026]

Well gas is down to $3.03 in and around the Franklin/Springboro area.

[Stangman]

:jawdrop:

[Black Horse]

It's all about making a select few's pockets fuller.

[85_SS_302_Coupe]

It's all about making a select few's pockets fuller.



Exactly. If i wasn't so against communism, i would say it's a crime. These oil execs sit back and make billions while the rest of America suffers. These guys could single handedly bail out Wall Street..lol

[Stangman]

Why would you do that.... when you could play on your giant mountain of money?!? :lol:

**Insert Cartman saying "MMmmmmm, Kyles money"** (as he rolls in a pile of quarters on the floor) :lol:

[ADaughen]

Gas dropped ~.60 in two days in Huber.

I paid $3.89 for mid grade and now unleaded is $3.14/gal.

[Waffles]

If oil drops today, it doesn't change the price the station paid for gas yesterday.

[89notch]

If oil drops today, it doesn't change the price the station paid for gas yesterday.

But if oil goes up today it changes the price today.

[beefcake]

But if oil goes up today it changes the price today.

yep, it was down to 90 a couple weeks ago too, and the price never dropped at all

[Rick93coupe]

But if oil goes up today it changes the price today.

Because they have to pay more to buy it themselves and restock.

[Waffles]

It's just not as simple as oil = x so gas at the pump = y

[85_SS_302_Coupe]

It's just not as simple as oil = x so gas at the pump = y


No, but it does work out that oil prices = who cares, and so gas prices = $$$$$$$ :lol:

[331TwistedWedge]

Crude hit @ $147 for a high and it was $4.24 at the pump ...

Crude is now $89.02 a barrel and is $3.25 at most pumps ...

$147- $89 = $58

$58 / $147 = 39%

39% of $4.24 = $2.56

Thats a 39% drop, gas should be $2.59

WHERE IS MY $2.59 GAS?

[Mista Bone]

You folks are THAT clueless?????????????

That the futures number, add .60 and that is fair gas price per gallon with a stable market.

2.25 per gallon future = 2.85 at the pump

2.08 right now....where is the 2.75 a gallon gas?

[Black92LX]

You all are also forgetting another aspect of it.

Most gas stations sell all the little snacky things as well. With the price of gasoline being higher people are buying less in the store than they were before. So they are making it up with the cost of gas.

Companies need to make X amount of dollars total. If for some reason they loose on that total because of a loss of one type of sale they will make it up elsewhere.

In this situation gas is still selling at record rates so they will get that extra there.

As someone else stated there is much more to the price of a gallon of gas as oppose to the price of the barrel.


yep, it was down to 90 a couple weeks ago too, and the price never dropped at all
because that's when the hurricanes were on their way and they were bracing for a shortage due to the ravaging of the refineries. Which thankfully never happened.

[Waffles]

You all are also forgetting another aspect of it.

Most gas stations sell all the little snacky things as well. With the price of gasoline being higher people are buying less in the store than they were before. So they are making it up with the cost of gas.

Companies need to make X amount of dollars total. If for some reason they loose on that total because of a loss of one type of sale they will make it up elsewhere.

In this situation gas is still selling at record rates so they will get that extra there.

As someone else stated there is much more to the price of a gallon of gas as oppose to the price of the barrel.


because that's when the hurricanes were on their way and they were bracing for a shortage due to the ravaging of the refineries. Which thankfully never happened.

Evil damned companies, trying to make money. WTF is wrong with them? :rolleyes:

[85_SS_302_Coupe]

Evil damned companies, trying to make money. WTF is wrong with them? :rolleyes:


See that's what i meant about being against communism. Saying it's wrong for them to make money is commy talk all the way. They should be allowed to make money...it just sucks for the rest of us. If you take away their right to make money then you take it away from everyone else.

I just need to get into the oil business :lol:

[Goober]

So, the Dow and all that crap is falling like the hair out of my head, yet amazingly oil has dropped to below $90 a barrel...and yet gas is still ~$3.60 a gallon.

They tell us oil prices dictate gas prices, yet when oil prices drop, gas prices stay the same.

It's called demand. Basic Economics 101 :bigthumb

[95redstang]

Demand is actually down. It's all about speculation. Advanced economics

[Waffles]

See that's what i meant about being against communism. Saying it's wrong for them to make money is commy talk all the way. They should be allowed to make money...it just sucks for the rest of us. If you take away their right to make money then you take it away from everyone else.

I just need to get into the oil business :lol:

T. Boone Pickens is getting out of the oil business. It's very shortly going to be a very bad business to be in. With Obama ahead in the polls, I'd get the hell out of oil too.

[85_SS_302_Coupe]

Well if i could just get in for one year i could support everyone on this site for the rest of their lives. All i need is one of their bonuses and i'm set.

[331TwistedWedge]

You folks are THAT clueless?????????????

That the futures number, add .60 and that is fair gas price per gallon with a stable market.

2.25 per gallon future = 2.85 at the pump

2.08 right now....where is the 2.75 a gallon gas?

you must not read what i typed ... we have dropped 39% from what they charged us at $147 a barrell ... has nothing to do with futures, stable markets or fair price ....

700wlw had a good comment, when gas was on the rise a year and a half ago ~ we paid $2.19 when crude was at $89 a barrel ...

so now that its coming back down (hopefully) why are we paying $3.xx at the same $89 a barrel?

[331TwistedWedge]

~and yes the demand is down ... 4% down, which equates to billions ... this is why crude is at $89 a barrel and not $150 ...

to end all arguments ~ they will make the price at the pump what they want and justify it to some natural disaster, pipeline break or any other bullshit excuse they can think of .............................

[BigBadStang]

Hell, they have us conditioned to pay exorbitant prices for fuel now. Fuel will never be "cheap" again.

[Black92LX]

T. Boone Pickens is getting out of the oil business. It's very shortly going to be a very bad business to be in. With Obama ahead in the polls, I'd get the hell out of oil too.
:lol::lol::lol::lol:

T. Boone Pickens is not getting out of the oil business by any means he is only expanding to other energy sources.

Oil is going to be a very very profitable business for a very long time to come. We have decades before we break our dependency on oil. We defiantly won't see it in our life time.
Energy as whole is going to be very profitable for all time. We are always going to demand energy.
He is being smart and adding to his incomes.

[Jaylynn]

I don't think anything's really going to be known until after the election at this point, if then...... i think that's not helping the situation either

[Mista Bone]

Blame Bush :)


and Clinton, the elder Bush, Ronnie, peanut farmer, tricky dick, LBJ............

[Goober]

Demand is actually down. It's all about speculation. Advanced economics

Proof? I have a hard time believing world demand for light sweet crude is down.

[85_SS_302_Coupe]

Hell, they have us conditioned to pay exorbitant prices for fuel now. Fuel will never be "cheap" again.

Exactly. I laugh at everyone who's happy to get it for $2.99 because it's still total bullshit that it's that much. I can understand inflation, i can understand that it's not ever going to be $1 a gallon again, but i don't think PREMIUM at $2.50 a gallon is unreasonable.

[Mista Bone]

gas should be about 2.65 a gallon right now, but there still is some shortages in the southeast.

2.77 in akron
3.39 in athens ohio

[95redstang]

Proof? I have a hard time believing world demand for light sweet crude is down.

Demand in the U.S. is down. THat's what I was saying. THe world is different. China and India are extremely high for demand. Their economies are growing fast because of the American companies moving there.

[Waffles]

Wait until Obama raises taxes on "big business" and "rich people" and see how much faster American businesses leave. I can't say I blame them when the government, and even now the consumers, create such a business hostile. Then, they'll use tarrifs or something on imports, which will only drive up prices for consumers.

[Goober]

Demand in the U.S. is down. THat's what I was saying. THe world is different. China and India are extremely high for demand. Their economies are growing fast because of the American companies moving there.

Exactly, our demand may be down, but we don't just have our own pot of oil. That is where I was going with demand.

[95redstang]

Exactly, our demand may be down, but we don't just have our own pot of oil. That is where I was going with demand.

I got ya...

[Mista Bone]

OPEC is calling an emerency meeting to CUT production.

[Goober]

Lemme guess. A sheik's son is turning 16, and he wants to buy him a Hummer, Bentley and 2 Lamborghini's. All armored.

[85_SS_302_Coupe]

OPEC is calling an emerency meeting to CUT production.

That's what really really REALLY pisses me off. They cut production KNOWING that demand is still through the roof and who knows what kind of catastrophy will happen next that they'll say drove prices up.

[SMOKE]

I got gas today for 2.89/gallon

[Waffles]

OPEC is calling an emerency meeting to CUT production.

This is why we should have been drilling 8 years ago. Dems keep saying, "It'll take 10 years...." but that's what they said 10 years ago too. If we'd done it then, we'd be just getting there now.

[Black92LX]

Exactly. I laugh at everyone who's happy to get it for $2.99 because it's still total bullshit that it's that much. I can understand inflation, i can understand that it's not ever going to be $1 a gallon again, but i don't think PREMIUM at $2.50 a gallon is unreasonable.

please explain to why gas should be cheaper??

[Mista Bone]

gas futures at $1.85, 87 should be down to 2.45 soon.

Oil below $80 a barrel.....