whoa, crude drops $6/bbl today

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newb

phresh
VIP
Ive noticed prices have come back up about 10 cents a gallon from the lowest I saw in '08. Still only $2.19 for premium though lol.
 

jeffie7

Wrong Whole!
VIP
its been 39-49 range up and down a few times in the last month or so.

I guess today it just made the news VS the other few times.
 

Briansol

Admins
Admin
VIP
another point to make is that at lower price points, 12% is a lot more dollar-wise than 12% at higher price points
 

BigJ

I'm just about that action Boss.
VIP
I filled up this morning. Gas went up 11 cents at the corner gas station in less than 5 hrs.
 

Luis998

Honda Enthusiast
I'm not surprised that prices are going up but if the price per barrel is going down, what is making the gas prices go up?
 

Briansol

Admins
Admin
VIP
the barrell price is a future. the gas you are putting in your tank is from late nov. barellel prices.
 

TurboMirage

That’s how you get ants
VIP
futures really dont make any sense to me. its january, why are we still paying for november?
 

Briansol

Admins
Admin
VIP
futures are commodities that aren't instantly available products.

oil gets 'harvested' and sold on the market at X price.

by the time the crude oil is shipped to texas, refined, and delivered to joe's gas, it's been about a month and a half. The orig price is what it was harvested at... not what it happens to be harvesting today for.
 

BigJ

I'm just about that action Boss.
VIP
I can tell B does a good amount of financial reading, as he did not major in business and he uses proper terms like commodities and such. :)

Fuck, won't let me rep him. Grrrrr
 

95b16coupe

Well-Known Member
I can tell B does a good amount of financial reading, as he did not major in business and he uses proper terms like commodities and such. :)

Fuck, won't let me rep him. Grrrrr
haha, that is terminology everybody should know.

anyways, if you see the price of oil, it is stated as a price for "future delivery". it takes about 2 months to get from the oil rig to the pump. but there is a "replacement cost". if oil prices go up today, you have to pay immediately even though gas stations have the cheap gas in the tank.
 

Briansol

Admins
Admin
VIP
I can tell B does a good amount of financial reading, as he did not major in business and he uses proper terms like commodities and such. :)

Fuck, won't let me rep him. Grrrrr

i'm a semi-active investor. I do about 5 trades a month depending on what's going on. I also run savingstalk.com you should head over if you're interested it making some money and learning how to get rich :)
 

Airjockie

Watanabe Whore!!!
Rest In Peace
actually, maybe I shouldn't post that....sorry
 

Airjockie

Watanabe Whore!!!
Rest In Peace
I IM'ed you the link I posted...but it had too much info on it...I felt it might be too revealing after I saw the other links...
 

Briansol

Admins
Admin
VIP
well, i'm not at home, so i guess it will have to wait to get the link... lol
 
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