[Illusion]

Oil was trading at $147 a barrell in July. That price has fallen to $95 and we are still paying nearly $4 a gallon at the pump. Can somebody make sense of this for me.

[Iwinyourmoney]

Ya its called BULLSHIT

[BadNina]

Originally Posted by Illusion

Oil was tarding at $147 a barrell in July. That price has fallen to $95 and we are still paying nearly $4 a gallon at the pump. Can somebody make sense of this for me.

Sure. Several refineries shut down due to hurricanes in the Gulf.

[pavyracer]

We need to keep the prices up to pay for Palin's make up and hair salon bill.

[nosniboR11]

Look, the hurricane hit the center of the gas refinery's (what turns oil to gas) with that down prices will go up. Supply and Demand. We have almost 2/3rds of the refinery's in south texas and almost every one is down.

God Bless the USA

[pavyracer]

Originally Posted by nosniboR11

Look, the hurricane hit the center of the gas refinery's (what turns oil to gas) with that down prices will go up. Supply and Demand. We have almost 2/3rds of the refinery's in south texas and almost every one is down.

God Bless the USA

The problem is that most of the gas consumed in the US comes refined from Europe. The gas companies are taking the american public for a ride as usual.

[nosniboR11]

No, it is not but nice try. We refine the majority of our gas here in the USA. But ok.

[daggerkobe]

Have't seen any rise in prices, still $3.69 here.

But I do see them using IKE as an excuse to raise prices in some parts. I mean Bush can look at Iran the wrong way and they'd raise prices.

[Cloak & Dagger]

Originally Posted by pavyracer

We need to keep the prices up to pay for Palin's make up and hair salon bill.

[ShamsWoof10]

Originally Posted by Illusion

Oil was trading at $147 a barrell in July. That price has fallen to $95 and we are still paying nearly $4 a gallon at the pump. Can somebody make sense of this for me.

Come on "Illusion" I thought you were one of the brighter posters...

I wonder why I didn't see anyone complain why oil went from $15.00 to $150.00 (up 10 times) and gas didn't go from $1.00 to $10.00... It didn't go up that much with oil so it's not going to go down as much when oil goes down.... Gas went down big today on the futures market so I expect it to go down about .20 at the pump this week....

The other reason is it's manipulated....

[Willie Bee]

Originally Posted by pavyracer

We need to keep the prices up to pay for Palin's make up and hair salon bill.

Now that's funny, I don't care who you are

[onthewhat]

lol...guys are throwing down hundreds on football action and complaing because gas costs $5 more for a fill up....lol

think about that guys

you all bet hundreds a weekend on nfl and are complaining over 5 dollars per fill up.

[bmw530i]

It was reported IKE damaged 10 gulf platforms in the gulf of mexico.

[Brock Landers]

Its called gouging

[Kaps]

its called grab your ankles

[bigboydan]

When in doubt blame Bush.

[accuscoresucks]

[tacomax]

Originally Posted by ShamsWoof10

Come on "Illusion" I thought you were one of the brighter posters...

Remember - glass houses and stones.

You're the last person at SBR who should be criticising someone for their intelligence.

Originally Posted by ShamsWoof10

I wonder why I didn't see anyone complain why oil went from $15.00 to $150.00 (up 10 times) and gas didn't go from $1.00 to $10.00...

Because most people aren't frickin' retards and know that the oil price increasing by a factor of 10 doesn't mean that the price of gas is going to also increase by a factor of 10.

[Poker_Beast]

The same reason oil companies post record earnings quarter after quarter.

[Illusion]

Originally Posted by ShamsWoof10

Come on "Illusion" I thought you were one of the brighter posters...

I watch the markets everyday and still don't understand how the oil market works. I completely understand your $10/gallon arguement, but why is it that when oil spiked in July gas prices went up 5/10 cents a day. Now that prices have come down 35% off their highs why don't they reduce prices as fast as they raised them? Shouldn't that system be balanced? I know there are other factors like hurricanes, but Ike didn't cause as much damage as initially thought. I also heard on CNBC that the oil companies have a massive supply coupled with weak demand. Hell, I heard some stations in the southeast (far from the hurricane) raised prices past $5 a gallon. Knowing there are fines for gouging why would such stations do this?

[Tchocky]

It's a good question. I've been wondering the same thing. It seems there is some market manipulation, price fixing, collusion, etc. going on in the oil market.

[topcat]

Originally Posted by Illusion

Oil was trading at $147 a barrell in July. That price has fallen to $95 and we are still paying nearly $4 a gallon at the pump. Can somebody make sense of this for me.

i think you are right.i dont understand it either.my dad aid the same thing you have.another thing thats weird,is we live on the border between south carolina,and north carolina.its close to 50 cents cheaper in south carolina.i heard opec wasnt going to give out as much.the whole damn thing is bullshit.thes oil people are bastards.

[reno cool]

its called speculation. you know business. money for nothing, checks for free.

[tblues2005]

The oil companies are taking advantage of this and while Bush is still in office they know he will do nothing about the gouging either. We are only 7 weeks away and I cannot wait until this lame duck is out of office.

[Tsoprano]

bs is right.

[LVHerbie]

Originally Posted by topcat

i think you are right.i dont understand it either.my dad aid the same thing you have.another thing thats weird,is we live on the border between south carolina,and north carolina.its close to 50 cents cheaper in south carolina.i heard opec wasnt going to give out as much.the whole damn thing is bullshit.thes oil people are bastards.

This might have to do with state taxes on gas as there is some variance from state to state...

[ico2525]

Oil down, gas up, that's the way I like to fvck!

[briangoethe]

Oil prices are high and people are mentally disturbed these days

[Illusion]

Originally Posted by briangoethe

Oil prices are high and people are mentally disturbed these days

Compared to July todays oil prices are a picnic.

[danrman]

Originally Posted by pavyracer

The problem is that most of the gas consumed in the US comes refined from Europe. The gas companies are taking the american public for a ride as usual.

this is completely untrue and i dont know where you get your information from but it sounds like a liberal blog... the hurricane caused the shutdown of some major refineries in the gulf as already stated... its always some kind of bs w/ you liberals..