Oil Prices DOWN
 

Well, for the 3rd day in a row, the price of oil has dropped. I wonder how many months it will take it to hit the gas pumps as the raised the hell out of gas before there was ever a problem.. ANY COMMENTS?????
:confused: :confused: :confused: :confused:

Gas prices in this area have dropped $.20 a gallon in the last week.

Jim

Gas here is going up, up, and up, but that's because Phoenix uses a special blend of winter gas that the refineries don't want to produce anymore...in about a week and some, though, the price should drop right back down.

there is talk about gas price per barrel being less then 20 buck......today the price per barrel fell more then a dallor

some light reading....
http://channels.netscape.com/ns/pf/p...iraq/oilprices

The price of crude is only a small part of the price of gasoline. If it were just crude price increases over the last few months the price of gas would have increased 30 cents a gallon or so. Not 70 cents. This is all profit taking.

They had a article about gas prices and the claims of oil companies about the prices. They said that half the cost of a gallon of gas was the cost of the oil. The other half then would be taxes and cost of production, transportation, selling etc.

Anyway I have kept track of local prices vs market oil prices and gas prices went up much more than the actual increases in oil price. When I started keeping track gas price here was 1.41 and at its highest point so far its 1.65. If you relate that to oil price changes the highest gas should have gone should have only been 1.45 here. When oil went up the price of gas would go up the next day. Oil prices have dropped and we are yet to see gas prices drop. Pretty clear that it price gouging by the oil companies. Bet next quarter reports the companies claim an increase in profits.

I was talking to a guy several years ago who worked in a refinery and was now retired. He told me that the it cost about $.05 for every $1.00 in a barrel of oil to make a gallon of gasoline. The rest is blends and additives, not alot of crude in a gallon of gas. Then they make propane, kerosene, diesel fuel, motor oil, hydraulic oil, poly's, etc, etc.......they milk a barrel of oil for all it's worth and only 5% of it ends up as gasoline!!!!!.......Basically what he was saying is that if a barrel of oil cost $20, $.010 ends up as gasoline. I'm sure EPA regulations as to storeage takes a pretty good portion of it, transportation takes a little, but hauling gas doesn't pay very well. Mostly big profits for big oil companies.............makes me sick.

My dad said that gas is down20 cents per liter today the drop just came here now 63.8 or so 87 oct. Yippie ! I can drive the Burban hard again and still be able to afford gas.

those dam pirates

As far as the cost of transportation...here in southeastern pa,we have a sunoco, tosco,bp,and coastal refineries.Our gas is higher than central pa.When I go to my parents,in reading pa,the gas is .25 ag allon less.It is 30 miles west of me.