Oil Prices Plummet

[BrianSoddingBoru4]

Rule of thumb in the industry: rising price per bbl rising is tracked twice per day as a gas station. Falling price per bbl is tracked twice per week at the same station. It's how you stretch margins.

Good to know. I’ve often wondered why the pump price seems to go up immediately when a higher price of oil is announced (when the station clearly hasn’t had the opportunity to buy at the higher price), but seems to take much longer to go back down after the price of oil drops.

Boru

[Thumpalumpacus]

Rule of thumb in the industry: rising price per bbl rising is tracked twice per day as a gas station. Falling price per bbl is tracked twice per week at the same station. It's how you stretch margins.

Good to know. I’ve often wondered why the pump price seems to go up immediately when a higher price of oil is announced (when the station clearly hasn’t had the opportunity to buy at the higher price), but seems to take much longer to go back down after the price of oil drops.

Boru

Right, the fuel in the supply chain was purchased a couple of weeks ago, so it's all sleight-of-hand.

[Angrboda]

♪ ♬ Does anybody really know whose oil it is ♪ ♫
♪ ♬ Does anybody reallycare ♪ ♫

[The Architect Of Fate]

The Oil industry being sleazy and manipulating global supply to increase scarcity to increase their own profits ..... What a surprise 

[Pat Mustard]

Good to know. I’ve often wondered why the pump price seems to go up immediately when a higher price of oil is announced (when the station clearly hasn’t had the opportunity to buy at the higher price), but seems to take much longer to go back down after the price of oil drops.

Boru

Right, the fuel in the supply chain was purchased a couple of weeks ago, so it's all sleight-of-hand.

And was likely hedged anywhere between 6 months and 3 years ago (unless you're Michael O'Leary of Ryanair fame)