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Gas prices question
Posted on 3/17/15 at 12:03 pm
Posted on 3/17/15 at 12:03 pm
If gas got down to $1.76 a gallon here in Shreveport back in January why is it over $2.10 now with oil prices currently at a six year low?
4
Posted on 3/17/15 at 12:06 pm to Geekboy
Because OPEC is trying to help out all us oil field trash.
We have to keep our jacked up F250s and river ranch houses.
We have to keep our jacked up F250s and river ranch houses.
Posted on 3/17/15 at 12:06 pm to Geekboy
i talked to an oil exec today, he said expect prices of 1.49 per gallon by fall
Posted on 3/17/15 at 12:06 pm to Geekboy
Because the oil produced today wasn't turned into gas today
Posted on 3/17/15 at 12:11 pm to Geekboy
If oil goes up $10/barrel, the next day gas goes up $0.50/gal.
If oil goes down $10/gal, it'll take a week to go down $0.05/gal in 2 weeks.
It's kinda like property taxes. If the market takes a dive, the assessors take 2 years to reassess. If it goes up, they'll reassess within 2 weeks to make sure they get their extra cash.
If oil goes down $10/gal, it'll take a week to go down $0.05/gal in 2 weeks.
It's kinda like property taxes. If the market takes a dive, the assessors take 2 years to reassess. If it goes up, they'll reassess within 2 weeks to make sure they get their extra cash.
Posted on 3/17/15 at 12:24 pm to Croacka
quote:
Because the oil produced today wasn't turned into gas today
Ok, but why do gas prices react overnight when there is a spike in oil prices?
Posted on 3/17/15 at 12:25 pm to LSUsmartass
Futures contracts, breh
Posted on 3/17/15 at 12:26 pm to LSUsmartass
quote:
Ok, but why do gas prices react overnight when there is a spike in oil prices?
Because there isn't one.
Posted on 3/17/15 at 12:34 pm to Croacka
quote:
Because the oil produced today wasn't turned into gas today
Then why if someone farts in the Middle East and the price of oil goes up the price of gas at the pump almost immediately goes up?
Posted on 3/17/15 at 12:35 pm to LSUsmartass
quote:
Ok, but why do gas prices react overnight when there is a spike in oil prices?
Because the brokers recommend prices to the gas stations.
Buy low and oil prices go up? Time to make extra money
Buy high and oil prices drop? Hold out as long as possible until the supply you bought is gone.
The oil market is subjective and seems to be easily manipulated/explained away by every level.
Posted on 3/17/15 at 12:37 pm to lsudude24
quote:
Then why if someone farts in the Middle East and the price of oil goes up the price of gas at the pump almost immediately goes up?
If you sold a product, and it was going to cost more to replace that product once you sold it than you paid a week ago, you'd charge more for it to cover future costs.
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