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In Reply to: RE: Nice! posted by Awe-d-o-file on October 13, 2014 at 11:54:24
Seems like gas prices always go down after the tourist season is over. They'll find a *reason* to raise prices up again before next summer, you bet...
Follow Ups:
to oil prices like the cost of ground coffee is tied to the price of coffee beans' wholesale prices. There is some but not a whole lot of wiggle room when, for example, oil costs $2.20/gallon (on $90 oil cost to the refinery), and you have to add in $.40+/gal for state and fed taxes at the pump, add refinery margin to cover refinery costs and profit, more add ons for transportation costs to wholesalers/their costs and profits/ transportation to retailers and their costs and profits.....
(FTR, I know oil is refined into more and less profitable products than just gasoline :) )
I wonder what the half life of this thread is??
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"E burres stigano"
I'll believe it when I see it.
There'll always be price fluctuations of a few cents unrelated to refineries' cost of oil due mainly to regional supply/demand. Also, refineries require constant maintenance and literally go offline periodically for non routine maintenance due to the fact that they're, literally, explosive. When a refinery in an area is down for a few days-weeks, prices in the area will rise. Picture is of what happens when refineries aren't maintained
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"E burres stigano"
WTI is currently at $81.38 for November delivery. It was at $80.52 earlier this morning. Brent is at $84.07.A couple years ago or so, T. Boone Pickens said he expected to see $80 oil before $140 oil. Right again, Boone!
Surely, the lackluster and even recessional economies in the U.S., Europe, and South America have NOTHING to do with it.
Demand is down, so prices are down. It's not rocket science. For the inside scoop on oil, listen to Ed Wallace's "O" report on his show "Wheels" Saturday mornings from 8 am to 1 pm Central on KLIF 570 in Dallas, or go to his website insideautomotive.com, where you can listen to the live stream.
Using the rule of thumb "buy low, sell high", this may be a good time to buy some oil stocks.
:)
Edits: 10/16/14 10/16/14
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