Price of oil dropping. - Ford Powerstroke Diesel Forum
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  #1  
Old 07-23-2008, 07:41 AM
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Price of oil dropping.

FINANCE - Oil prices extend decline, drops below $127 - Top News - Comcast.net

If oil is dropping or "tumbling" as the article say....like its a bad thing then why is my diesel going up here in little rock? makes no sense to me.
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Old 07-23-2008, 07:54 PM
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so gas has dropped to 3.70 but diesel is still 4.85??
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Old 07-23-2008, 08:01 PM
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it's called "Oil Futures". the price per barrell is what companies will pay several weeks/months from now.
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Old 07-23-2008, 08:02 PM
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$4.75 here Woo Hoo! I cant believe I'm excited about $4.75 fuel.
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Old 07-23-2008, 08:03 PM
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gotcha...so by then the future price will have gone up again.. and we will never see change? therefore the oil company just "eats" the excess profit?
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Old 07-23-2008, 08:08 PM
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hey patrick im also from the pittsburgh area and i was drivin north thru export and a sunoco and a citgo had it fir 4.79 and tire place had it for 4.69
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Old 07-23-2008, 08:11 PM
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Quote:
Originally Posted by sldghamr View Post
it's called "Oil Futures". the price per barrell is what companies will pay several weeks/months from now.
If thats the case then why is it when oil goes up, fuel prices go up? To me the futures price is reflected in our fuel prices immediately. Up not down by the way.
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Old 07-23-2008, 08:20 PM
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Quote:
Originally Posted by choctaw View Post
If thats the case then why is it when oil goes up, fuel prices go up? To me the futures price is reflected in our fuel prices immediately. Up not down by the way.
i agree completely so I'm just baffled.
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Old 07-23-2008, 08:21 PM
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Yeah they always say that they have to raise the price of fuel immidiatly to cover costs when oil prices go up, but say that fuel prices can't go down until the fuel made with the cheaper oil gets to the pump. All just double talk to keep makin the big profits.


Jay
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Old 07-23-2008, 08:23 PM
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one thing i dont get is, and there might of already been a thread about this, but how come diesel was always cheaper than gas and now it is more?
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