More oil comments...
The other side of the argument.....
About a month ago a barrel of light sweet crude (mmmm sweet crude) was selling for roughly $77/BBL today it's trading around $64 (about 83% of August's price). According to the Government's own website crude prices account for about 52% of the price of gasoline (the rest of the price - other than profit margin - is made up of refining, distribution and taxes all equally stable factors). In August the avg. price was $3.11 a gallon, today $2.62 - or 84% of last month's prices....
So if anything distributors and sellers are making 1% more than they were a month ago....
hmmmm - so perhaps my Machiavellian musings were off target..... but maybe not....
About a month ago a barrel of light sweet crude (mmmm sweet crude) was selling for roughly $77/BBL today it's trading around $64 (about 83% of August's price). According to the Government's own website crude prices account for about 52% of the price of gasoline (the rest of the price - other than profit margin - is made up of refining, distribution and taxes all equally stable factors). In August the avg. price was $3.11 a gallon, today $2.62 - or 84% of last month's prices....
So if anything distributors and sellers are making 1% more than they were a month ago....
hmmmm - so perhaps my Machiavellian musings were off target..... but maybe not....
posted by AK | 12:25
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