Re: (OT:) The price of a barrel goes up...
- From: Jeff <kidsdoc2000@xxxxxxxxxxx>
- Date: Sat, 31 May 2008 04:18:17 GMT
Norm De Plume wrote:
Mike hunt wrote:
I guess it depends on ones definition of "The price of gas goes up every
time crude goes up" Last year a time crude was around $60 a barrel and
gas was around $2.60. Today crude is up to $130 a barrel yet gas is not up
to $5 a gallon, it is $4. Obviously it did not go up EVERY time crude
when up ;)
From the information you provided, it is not obvious the price of
gasoline rose every time the price of crude rose. At best you've
shown that the price of gas did not go up proportionally as much as
the price of crude. Perhaps your 3% CO2 atmosphere is affecting your
mental process, as it did when you said the Federal Reserve didn't
exist in the early 1940s. ;)
Actually, if you subtract the cost of transportation, refining and taxes, then I think you would find that the price of gasoline is pretty closely related to the cost of crude oil. However, it is not perfectly related. Politics and supply and demand play a role, as do other factors.
Jeff
.
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