Gas prices vs oil commodities

[SgtMaj]

With oil having jumped quite a bit the day before yesterday to hit a new high, I expected to see gas prices increase quickly to match. However that hasn't happened yet. Could it be that the price of gas is not being driven by the oil commidity market as much as it used to be?

 

[jay_merrill]

Re: Gas prices vs oil commodities

What I think I am seeing in my area is a trend that involves retailers basing gasoline price on what they had to pay for the load, rather than the old standard of raising prices with every announcement in regard to crude. Since crude made the huge jump yesterday, the wholesalers will probably raise the price and so will the retailers as they purchase it for resale.

 

[SgtMaj]

Re: Gas prices vs oil commodities

If that's what's happening, then that's even better, because that's how it's supposed to be done. It would be great to see the retailers no longer coordinating their price increases (or drops) with each other.

 

[SpinnerBait_Nut]

Re: Gas prices vs oil commodities

Who was that, that told me the other day it would come down .25 by the weekend?

 

[SgtMaj]

Re: Gas prices vs oil commodities

yeah... so much for that... lol

In a strange way... we're so close to the point where it pays for itself, I almost wish gas prices would raise to $4 a gal (up about .23)... cause then I could get a new vehicle and it would pay for itself in gas savings... of course, I don't think gas prices will hold next year, so probably won't do that until I have to replace a vehicle.

I think the market is going to fall out of oil soon. It's an oversaturated bubble that's about to burst worse than the .com's did. I mean, there's no diversity there, so when it goes, it'll go all at once and will completely erase many people's wealth. But... not mine... I'm smart enough to diversify.

 

[Bondo Again]

Re: Gas prices vs oil commodities

I think the market is going to fall out of oil soon. It's an oversaturated bubble that's about to burst worse than the .com's did.

Ayuh,......

While I agree with that statement,... To a Point.......

It's My belief that Most of the Problem with the price of Oil,...
Is More to do with the Falling Value of the Dollar,... Which is what the market is based on.....
Both this Administration,+ the Congress have been driving the Dollar to new Lows.....
That's Why oil is Soo High.....
And,....
That's also Why I'm battening down the hatches,+ getting ready for a Big Crash.......