This winter's fuel prices

Posted by Mark - IN. on June 03, 2005 at 15:24:04 from (64.12.117.7):

I was just finishing up the last job, jumped in the truck and turned on the radio. Was some market analyst type from a large NY futures/brokerage company on the radio speculating that the projected current on-hand quantity of gasoline and diesel wouldn't be sufficient for the estimated demand this winter.

That made me think two things right away. One, hint hint hint, winter fuel prices are already on the rise, in June. Two, everytime crude goes up per barrel, the prices go up just as fast, if not faster. When asked why it is that the second crude goes up, does the price of that already paid for, refined 5,000 or 10,000 gallons aready setting in those tanks at gas stations go up that very second as well, the oil companies always answer that it's because there's never more than a days supply of fuel on-hand at anytime.

So what am I missing here? If there's never more than a day's supply on-hand, how are they predicting the futures (6 or 8 months from now), based upon current supplies? I'll be the first to admit that I'm far too too stupid to be a CEO type, so can someone explain it to me? Because I'm stupid, very very stupid, apparently. I am stuuuupid.

Mark

Follow Ups:

• Re: This winter's fuel prices sloroll 15:40:29 06/03/05 (0)

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