Ramhock Posted May 2, 2008 Share Posted May 2, 2008 Oil is down 5%, this week. Gasoline hasn't gone down one cent. Why is that? Oil consumer Quote Link to comment Share on other sites More sharing options...
budlitebrad Posted May 2, 2008 Share Posted May 2, 2008 What is... inelasticity? Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted May 2, 2008 Share Posted May 2, 2008 Supply is not as high because of decreased refinery capacity and also due to the seasonal switch over. There are also other issues that will lead to the higher pricng as well relating to when inventory was purchased. Quote Link to comment Share on other sites More sharing options...
TimC Posted May 2, 2008 Share Posted May 2, 2008 (Worth a click to see the pic) Oil Exec Struggles With Gas Price Excuses HOUSTON (CAP) - The anonymous middle-aged white overweight Texas oil executive who arbitrarily decides what gas prices will be in this country admitted yesterday that it was "very difficult" coming up with an excuse for the most recent surge in prices. With no hurricanes anywhere near the Gulf of Mexico, record crude surpluses around the world, unseasonably warm temperatures across the country, and no successful terrorist attacks on Middle Eastern oil fields, the executive reportedly had to "dig deep" this time around. He settled on some b.s. about "strained relations with Iran, unrest in Nigeria, and unrelenting demand in China, India, and the Middle East," which the media ate up. "I used this same one in 1983," he said. "I was really trying my ass off to work Angelina Jolie's baby and Namibia into this one, but I just got tired and went to bed, instead." The executive also said the surge was caused, in part, by a phone call he got a call last week from a buddy at Exxon Mobil, Corp. The early word from company accountants was that Exxon Mobil's second quarter profits were expected to be down 1.7% to $95.6 billion. As a result, the company is expected to announce 3,000 layoffs at three refineries in Alaska. "Price surges are so much easier to explain during hurricane season and in the summer when people actually believe there is significantly more demand," he said. "But when the stock market takes a dip and we just need more cash on hand, it can really be a bitch." Quote Link to comment Share on other sites More sharing options...
isleseeya Posted May 2, 2008 Share Posted May 2, 2008 Just like we never went to the moon but scammed the world , the same is being done with gasoline prices They want us to believe what's not there ...and we can do very little about it :fishing: maybe Quote Link to comment Share on other sites More sharing options...
Randall Posted May 2, 2008 Share Posted May 2, 2008 Gas prices have come down :drum roll please: 1 penny! Quote Link to comment Share on other sites More sharing options...
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