Libyan streets filled with blood

[dReWpY]

We jumped 10 cents over night

[Papa_Complex]

We jumped more like $0.20 overnight.

[Papa_Complex]

Well there's certainly lag on price drops, if they ever come, when the per-barrel price drops.

[shmike]

Originally Posted by Papa_Complex

Well there's certainly lag on price drops, if they ever come, when the per-barrel price drops.

Maybe an extra day or so.

Papa,

I understand your frustration and I know it feels like "they" use any excuse to raise prices but the inverse doesn't seem to happen.

The numbers tell us otherwise. Look at goof's chart.

In my own experience, we were paying over $4/gal back in '08 and it was down into the low $2's last year. The increases/decreases may not be on a 1:1 ratio but the timing stays pretty true.

[goof2]

Originally Posted by shmike

Maybe an extra day or so.

Papa,

I understand your frustration and I know it feels like "they" use any excuse to raise prices but the inverse doesn't seem to happen.

The numbers tell us otherwise. Look at goof's chart.

In my own experience, we were paying over $4/gal back in '08 and it was down into the low $2's last year. The increases/decreases may not be on a 1:1 ratio but the timing stays pretty true.

I don't totally trust that chart as I'm not familiar with the source. The U.S. Dept. of Energy though tracks average national gas prices weekly. According to them the average price for the U.S. was at $4.11 per gallon in the middle of July 2008. By the end of December 2008 it was back down to $1.61 per gallon. It went back up to the $2.50 range by the middle of 2009 and stayed there until this stuff started. Comparing that data to the chart shows they match up pretty well.

[shmike]

Originally Posted by goof2

I don't totally trust that chart as I'm not familiar with the source. The U.S. Dept. of Energy though tracks average national gas prices weekly. According to them the average price for the U.S. was at $4.11 per gallon in the middle of July 2008. By the end of December 2008 it was back down to $1.61 per gallon. It went back up to the $2.50 range by the middle of 2009 and stayed there until this stuff started. Comparing that data to the chart shows they match up pretty well.

Yep.

I'm not touting your chart as the gospel of oil & gas prices but it matches the price fluctuations we have seen here pretty much exactly.

The reality is:
Crude prices up = pump prices up
Crude prices down = pump prices down

[Papa_Complex]

Originally Posted by shmike

Maybe an extra day or so.

Papa,

I understand your frustration and I know it feels like "they" use any excuse to raise prices but the inverse doesn't seem to happen.

The numbers tell us otherwise. Look at goof's chart.

In my own experience, we were paying over $4/gal back in '08 and it was down into the low $2's last year. The increases/decreases may not be on a 1:1 ratio but the timing stays pretty true.

In the Toronto area we're talking WEEKS, if ever, that the price rebounds down and when it does, it never goes back to the level that the crude price would justify.