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Weekly Wholesale Gasoline/Diesel Pricing #14

T

T_Bone

Well-known Member
The (+/-) is the change from the previous week

Gasoline= $1.50 (+$.01)

Diesel= $2.09 (+$.13)

WT Crude= $66 (+$2)

Gold= $718 (-$16)

Current WT crude low bottom $61 made on 10/27/08

World oil is now consistantly lower than USA oil, about $2/bbl (-$0/bbl)

OPEC cut 1.5m/bbl/day from production on 10/24/08


T_Bone
 
Thanks for posting those for us, T_Bone. They're always interesting. How much do you think the 1.5m barrel cut will affect the price?
 
Hi tiresntracks,

Well OPEC is already talking another 1.5m/bbl cut in November as oil is just falling too fast for them. That's nothing better than price fixing in it's finest hour.

Our Gov't is what let oil & grain prices get out of hand and that is having a huge effect on the world consumer. Even at current $60 crude, the price gouging when oil was at $147/bbl will never come back down to the $60 level.

So if the consumer has to pay an average of 30% more for common staples they need, I don't see how even the mid-range consumer will not be effected somewhere down the road as his wages is surely not going to increase 30% to offset the new higher costs and once again we'll start the current process all over again.

Iran made a statement last week that they needed $90 crude to meet there projections on what their planning on spending. Iran supplies 2m/bbl/day to the world market. Hows that for a set of ballz.

T_Bone
 
Qantas and a number of other companies just got lumbered for fixing freight prices. Collusion is illegal.
Opec can hold a meeting and all countries decide to reduce oil production to keep the price high.
That's not collusion.
well bu@@er me.
 
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