> 1) Why is the drop in crude oil prices ~20% but the drop in
> gasoline prices ~35%?
>
> I haven't checked that these amounts are accurate nationally but
> gasoline costs where I reside are indeed only
> 2/3 of what they were in July. I went from paying $3.05 to $1.96
> although the price this last week has
> rebounded a small amount to $2.06.
According to Energy Dept stats - and of course they may be in on the conspiracy - oil prices are off 24% from their peaks (daily prices, WTI), and gas prices, 24% (weekly prices, all kinds).
Doug *****************************************************************
What's happening with Iraqi oil? Is it still off the market? Of course, it is..well mostly, I suspect. I don't know for sure though. That's one reason why I read LBO. ;P I mean, second largest proven oil patch in the world off the market. Could it be in Big Oil's interest to keep it so? Yeah, I know: the insurgency. Seems, if that pool came online, the world market price of oil would be back to $25 a barrel again, like it was before the 2003 invasion. Of course, this wouldn't be good for Big Oil's profits. Or is this an illusion?
Regards,
Mike B)
Read "Penguins in Bondage": http://happystiletto.blogspot.com/
---------------------------------
All-new Yahoo! Mail - Fire up a more powerful email and get things done faster. -------------- next part -------------- An HTML attachment was scrubbed... URL: <../attachments/20061008/cefe7b1a/attachment.htm>