Quote:
Originally Posted by flamesaresmokin
To put it simply - gas providers bought the gas thats selling today a week ago at 115 a barrell. Since the price has dropped they don't want to lower the price and cut into the profits. They have alreadybought the oil for a higher price then they could buy it for now. Funny thing is that when the opposite happens they don't hesitate to jack the prices immediately.
http://www.calgarygasprices.com/retail_price_chart.aspx
Based on this chart you can see that we should be paying far less then we are now (hurricane or not) based on the prices of 100-105 a barrell a few month ago. Maybe its just me but i'm getting tired of the whole blitz the consumer garbage. |
Oil sold on the commodity markets is for delivery a month down the road. The price shouldnt fluctuate that wildly. But I'll admit it seems to go up faster than down. Oil hit the record high in the 1st or 2nd week in July, so we should see our price trending downward continously over the next couple of months. This should happen so long as our dollar doesnt go in the toilet because energy stocks drop.