Quote:
Originally Posted by TripletDaddy
I did notice that drop in prices, 71, and the coincidence of the timing was not lost on me. In Irvine, the prices dropped from about 4.68 to about 4.38 in a few days immediately after the announcement. But I filled up this morning and the prices were creeping back up again....4.47.
Here is what has not been explained...perhaps you can enlighten...and I am not pulling your chain here......assuming that crude could be sold on the open market today, why wouldnt those drums simply be sold at open market prices? Are these companies going to give the US a discount? Also, do you envision a drop in demand for oil consumption in the near future? Without that drop, why would prices go down? If anything, isnt demand going to continue to rise?
Basically, the US is catching up to the cost of petrol everywhere else, where it has been super expensive for a long time. I doubt it will ever drop back down to where it was pre-Iraq war.
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silly rabbit. the reason that gas was so expensive in other places was not because oil was more expensive for them on the market. It was because of huge taxes.
And yes, it is now even more hugely expensive in Europe.