Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
Reload this Page Why is gasoline trading so high now? (costs, between, price)
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search
 Search Forums  (Advanced)
 
Old 02-06-2009, 08:15 AM
 
1,955 posts, read 5,279,731 times
Reputation: 1124

Advertisements

Normally I follow this stuff a little better, but I've taken a break for a while. I just looked at the NYMEX site and saw that crude is currently trading for $39.74 and gasoline for $1.247. Anybody know what's up with gasoline? Wasn't it trading at $0.8-$1.00 at these crude levels back in December?
Reply With Quote Quick reply to this message

 
Old 02-06-2009, 08:40 AM
 
Location: Great State of Texas
86,052 posts, read 84,772,381 times
Reputation: 27720
OPEC cut back production..twice now I believe to drive the price back up.
Reply With Quote Quick reply to this message
 
Old 02-06-2009, 09:01 AM
 
Location: WA
5,644 posts, read 25,034,164 times
Reputation: 6579
The spread between crude and gasoline is pretty high (the high price is not coming from crude costs) indicating that gasoline prices are being driven from the refining / distribution area. Refiners were losing for awhile with the drop to very low prices so maybe capacity has been taken off line to help raise the price and allow refinery maintenance while prices are not terribly lucrative.
Reply With Quote Quick reply to this message
 
Old 02-06-2009, 09:30 AM
 
14,994 posts, read 24,016,700 times
Reputation: 26542
Producers have re-adjusted (lowered) supply to meet demand. Market correcting itself.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

« Previous Thread | Next Thread »

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top