Quote:
Originally Posted by Boodleboy322
Anyone out there:
In your opinion, are the oil companies gauging the consumer by thickening margin or are they hedging on the decline of supply in the market? When oil was at its highs at $147 a barrel, gas was about $4.00 a gallon. Based on the conversions you can assume that gas should be about $2.61 (today's quote is about $96.00 a barrel of crude) a gallon. Do you think that spreads are wacked?
Here’s how I figured the number
X * CURRENT_BARREL_PRICE = CURRENT_GAS_PRICE
Where X = HIGH_GAS_PRICE / HIGH_BARREL_PRICE
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My dad was saying the same thing the other day. He doesn't understand why gas prices aren't going down when the prices of a barrel of crude oil has gone down a good deal.
All I can figure is that maybe they are trying to keep gas prices stable (instead of lowering & raising based on the price of crude oil) until they can get a stable price for a barrel of crude oil.