Quote:
Originally Posted by Glenflame
Supply & Demand:
$146/barrel crude oil last summer = $1.32/L gasoline last summer
$6x/barrel crude oil this summer = $0.99/L gasoline this summer
So, I could imagine:
$150/barrel crude oil next summer = $0.99 x 2.5/L gasoline next summer
Oil sucker!
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The cost of a commodity's inputs has nothing to do with its demand curve.
If you bought a single litre of gas at $0.99 this year, then you're a part of your own made up problem.