I have an once of gold. I haven't bought or sold any, but the price goes up and down. Not being a smart a$$, just trying to make a comparison.
A very basic look behind the curtain would be the indirect ratio of wholesale and retail cost of fuel. Say using rough numbers there is a general 50 cent per gallon margin(this is just a round number...it changes)there is 50000 gallons in storage, I need to sell it, the market price goes up. if I sell it below market, I then have to front more $ to resupply. So on hand price per gallon goes up. Now I have 50000 gallons of oil and the market drops. I now have oil that I have to lower the price on to sell and stay competitive without losing money. The price drops slowly. The trick is to smooth some of the everyday ups and downs of the market without changing your street price everyday. The profit margin changes daily to smooth out some of the peaks and valleys. Alot of what happens at your retail outlet is determined at a much higher level....starting before refining.
I hope that helps....not that it's an easier pill to swallow.
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