Gas price compared to oil price?
by donssiteDid anyone else notice that the price of crude oil has been dropping for weeks, yet in the Toronto area gas was near a record high. Sure, there was some risk from Hurricane Ike but stations put the price up 13-15 cents per liter on Friday and the storm didn’t hit till early Sunday morning.
I guess there was some gouging in the areas that were hit by the storm but most states only raised prices the equivalent of 5 cents per liter and did that on Saturday or Sunday. After the storm, the price dropped 9 cents in Toronto! Why 9 cents, what happened to the other 4-6 cents per liter? Over the weekend the price of crude still dropped around 10 dollars per barrel.
Did anyone hear how many billions of dollars of profit the oil companies made last year, it was a bunch.
Time to develop hydrogen and let the Arabs pump their oil where it’s dark.
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You’re right bud, something is fishy here.
I don’t know on what side of the political spectrum are you, but I have the feeling that this situation won’t get better even after the elections (I mean in both U.S. and Canada).
Unfortunately the market is more complicated than the relationship between oil and gas. There are people involved (and we know what that means), there is the stock market, speculation, all the in between guys and the guy that puts the price on at the pump.
thats the same prob we are having here in Philippines, gas prize is always going up. it seems that all other products are affected. fare, can goods and almost everything. Sigh* it just that they control everything.