Comments on: Go Figure! Oil Drops 11.2% This Week and Gas is Down 1.5% http://allfinancialmatters.com/2008/07/18/go-figure-oil-drops-112-this-week-and-gas-is-down-15/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 20 Nov 2009 19:56:44 -0800 http://wordpress.org/?v=abc hourly 1 By: Jeff http://allfinancialmatters.com/2008/07/18/go-figure-oil-drops-112-this-week-and-gas-is-down-15/comment-page-1/#comment-335931 Jeff Sun, 20 Jul 2008 17:10:25 +0000 http://allfinancialmatters.com/?p=2682#comment-335931 As they always tell us when the price of oil is going down: "The gas you are buying today was oil 3 months ago". Somehow they lose this line of reasoning when they set the price of gas upwards each time oil moves up. It's no wonder the gas and oil companies are breaking records for profits. Do you really think that the US slow gas usage by a large percent if they were to jack the price of gas up to $8 a gallon? I know I'd still need to get to work each day. I've already made plenty of cuts in the rest of my driving. I think I could only shave off another 10% or so. As they always tell us when the price of oil is going down: “The gas you are buying today was oil 3 months ago”.

Somehow they lose this line of reasoning when they set the price of gas upwards each time oil moves up.

It’s no wonder the gas and oil companies are breaking records for profits.

Do you really think that the US slow gas usage by a large percent if they were to jack the price of gas up to $8 a gallon? I know I’d still need to get to work each day. I’ve already made plenty of cuts in the rest of my driving. I think I could only shave off another 10% or so.

]]> By: "Mo" Money http://allfinancialmatters.com/2008/07/18/go-figure-oil-drops-112-this-week-and-gas-is-down-15/comment-page-1/#comment-335873 "Mo" Money Sun, 20 Jul 2008 14:01:49 +0000 http://allfinancialmatters.com/?p=2682#comment-335873 The data I saw showed crude oil affecting 76% of the price of a gallon of gas. However it does appear that it goes up faster than it goes down. Do you think the fact that President Bush accounced off shore drilling has any effect on the price of crude, or was it simply a coincidence? The data I saw showed crude oil affecting 76% of the price of a gallon of gas. However it does appear that it goes up faster than it goes down. Do you think the fact that President Bush accounced off shore drilling has any effect on the price of crude, or was it simply a coincidence?

]]> By: JLP http://allfinancialmatters.com/2008/07/18/go-figure-oil-drops-112-this-week-and-gas-is-down-15/comment-page-1/#comment-335627 JLP Sat, 19 Jul 2008 19:36:14 +0000 http://allfinancialmatters.com/?p=2682#comment-335627 Hoosier, I've heard people say that before but I find it hard to believe. Hoosier,

I’ve heard people say that before but I find it hard to believe.

]]> By: hoosier http://allfinancialmatters.com/2008/07/18/go-figure-oil-drops-112-this-week-and-gas-is-down-15/comment-page-1/#comment-335626 hoosier Sat, 19 Jul 2008 19:29:57 +0000 http://allfinancialmatters.com/?p=2682#comment-335626 you now fill your tank with gas that was bought by the refinery few weeks ago. on the other hand the reffineries have been making very little profit in the past 6 months as they could not increase the gas prices as fast as they had to pay more for the crude oil.as far as I remember the gas prices were behind the crude oil prices on the way up, so they will be behind the oil prices on the way down ( if after all there will be indeed a way down for the oil prices). you now fill your tank with gas that was bought by the refinery few weeks ago. on the other hand the reffineries have been making very little profit in the past 6 months as they could not increase the gas prices as fast as they had to pay more for the crude oil.as far as I remember the gas prices were behind the crude oil prices on the way up, so they will be behind the oil prices on the way down ( if after all there will be indeed a way down for the oil prices).

]]> By: Sean http://allfinancialmatters.com/2008/07/18/go-figure-oil-drops-112-this-week-and-gas-is-down-15/comment-page-1/#comment-335623 Sean Sat, 19 Jul 2008 18:58:46 +0000 http://allfinancialmatters.com/?p=2682#comment-335623 Maybe it is a good thing we do not know the raw material price of more goods, with precision... less internal friction. Maybe it is a good thing we do not know the raw material price of more goods, with precision… less internal friction.

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