What's the current price per barrel of oil?

[Deja Q]

Last I heard, it's now $48/barrel.

So how come gas prices are still $1.73/gallon?!

Three months ago, gas in MN reached $2.20/gal and oil didn't cost that much per barrel...

[hadrons]

1. the $48 per barrel are futures ....

the stockpile of gasoline is OK right now, its in the next few months that the big cruch is coming

[lapfog_1]

3. Don't believe it

There have been many occasions in the past where oil has gone up
and within a week at most, gasoline has gone up too. If there was
a large stockpile of refined products on hand, buyers would not
be bidding up the cost of oil... choosing rather to wait until lack
of demand caused the price of crude to drop before placing purchase
orders.

The gasoline market is being GAMED! Bandar Bush could NOT follow
through on his promises to lower the price of oil to the Saudi
target of around $30 to $35 per barrel... so the oil companies,
who KNOW they have a friend in the President, are simply eating
this one (and it's not such a big deal, they are making record
profits right now, so even if they ARE buying crude futures at
astronomic prices, what's in the pipeline now is still the cheaper
oil. They are simply missing an opportunity to gouge the customer!)
After the election is over, crude will still be over $44/bl, and
they will hike the dickens out of gas (now claiming a short supply
of refined product)... not to mention heating oil for the winter.

The most worrisome aspect of this is that Bandar Bush COULD NOT
increase Saudi production to meet the increased worldwide demand
AND hit their stated target price (overproduce to drive DOWN the
price of crude). Why? (BTW, Saudi Arabia is the ONLY oil
producing country with a significant untapped oil pumping
capacity - discounting Iraq)

[southernleftylady]

2. maybe this thread will help :)

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=104&topic_id=2238248&mesg_id=2238248

[Viking12]

4. Gas is at $1.98/gallon east of the river

MN prices will rise soon.

[Jackpine Radical]

5. That's our WI taxes. MN gas is usually at least $.10 cheaper.

Not that I actually mind gas taxes, BTW. They're a better alternative than IL-style tollways.