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07-03-2009, 08:00 AM
| #1 |
| Zone Head Joined: Mar 2009 From: Spokane Valley I Ride: Suzuki Boulevard C90, Honda CM250C | What's wrong with this ratio? Crude oil was selling for ~$150/bbl last summer, and gasoline was running ~$4.00/gal. This summer, with crude oil trading for ~$70/bbl, we're paying ~$3.00/gal for gas. However, 4:150::3:70 is NOT a true statement! I haven't found a reasonable explanation... KevinD |
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07-03-2009, 08:06 AM
| #2 |
| Superbiker Joined: Apr 2007 From: Port Angeles WA I Ride: 2007 ZX-10R SE, 2005 450 EXC, 1980 GS750 Cafe Project | didn't OPEC reduce production due to a lower demand? Besides, my theory is price gauging. During the winter months, the price of heating oil for houses goes up. During the summer months, the demand for heating oil goes down. So the oil companies still want to turn their ridiculous profit, and they jack up the price of gasoline/diesel. Due to the decreased production in response to the lower demand of automotive fuels, the prices seem to go up. I'm no financial specialist, but that's my theory...... |
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07-03-2009, 09:03 AM
| #4 | |
| Daytime Adventure Seeker  | 
 . There is no other reason other than the above. GREED, GREED,GREED. | |
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07-03-2009, 10:08 AM
| #7 |
| Moderator  Joined: May 2007 From: the Westside I Ride: only on the center of my tire. | Yup. When the bottom fell out of the financial market, a lot of the small and mid-cap speculators lost their ass in oil futures. OPEC would rather set a price floor at $70 per bbl than the glorious $35 per bbl it had fallen to. If oil was priced where it truly belongs, it'd be down in the $30 range or so I'd guess. We're actually still getting raped even at $70, but it's still better than what last summer looked like. Ugh. |
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07-03-2009, 10:11 AM
| #8 | |
| Superbiker Joined: Oct 2007 From: Bremerton, Wa I Ride: Slower than you on my Kawasaki GTR 1400 |
don't try to make sense of it, the myth of supply and demand is something OPEC and the Democrats made up to distract us. the fact of the matter is, we will pay whatever they charge and there's nothing we can do about it  | |
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07-03-2009, 10:15 AM
| #9 |
| Pit Crew Joined: Aug 2008 From: Medford, OR I Ride: my 2006 CBR600RR like a friggin pansy | Gas prices for the week of July04 2009 - $3.09 1999 - $1.31 1989 - $1.12 1979 - $0.86 1969 - $0.35 Anyone else see anything wrong with this picture? |
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07-03-2009, 11:21 AM
| #12 | |
| Forum Cripple |
http://www.washingtongasprices.com/Tax_Info.aspx Be happy you guys aren't in the UK, where gas goes for the equivalent of US$6-7/gal. | |
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07-03-2009, 11:27 AM
| #13 |
| WMRRA Qualifier Joined: Oct 2008 From: Dry Shiddies I Ride: 2008 Hayabusa, 2005 Hayabusa, 2000 GSXR 750 Track Bike | The root of all evil...money. With money comes power, with power comes corruption, with corruption comes more greed and the process starts all over again. Years ago there was a statement that old men and oil companies run the world. It is as true today as it was when stated. |
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07-03-2009, 11:36 AM
| #14 |
| Superbiker Joined: Dec 2005 From: Seattle, WA I Ride: '04 Moto Guzzi Stone | http://www.washingtongasprices.com:80/Crude_Chart.aspx Shows the relationship of crude prices to gas prices. The ratio is a LOT closer now than it was a year ago! |
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07-03-2009, 12:05 PM
| #19 | |
| Forum Cripple |
 I don't know why people bitch, just encourages more to ride bikes  | |
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07-03-2009, 12:29 PM
| #20 | |
| Superbiker Joined: Jul 2008 From: Spokane, WA I Ride: carefully. |
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07-03-2009, 12:30 PM
| #21 |
| Retired Joined: Mar 2006 From: spokane, wa I Ride: 2006 R6 | I think $2.50 to $3 is fair for gas. Since before I can remember until somewhat recently it was around $1 or just over per gallon. Since it stayed low for so long, I don't have a problem with simple inflation caused increases. Milk isn't $1.50 per gallon anymore either. Of course they drop production at the refineries to raise the price. They are in business to make money. Why would they work harder for less money? That makes no sense at all. On taxes, when a barrel is purchased, what is the import tax? That needs to be recovered. If we are paying a dollar or so on each gallon of gas in tax this year (with the cap and trade crap) and we were only paying around $.50 last year, that leaves the price roughly double of last year. So you are right, it isn't all taxes. Is there a Federal tax on top of this that I am not thinking about? |
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07-03-2009, 01:09 PM
| #22 | |
| Zone Head Joined: Mar 2009 From: Spokane Valley I Ride: Suzuki Boulevard C90, Honda CM250C |
Judging by that information, we should have been paying closer to $6.00/gal last summer! KevinD | |
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07-03-2009, 01:44 PM
| #23 | |
| MotoGP Contender Joined: Sep 2006 From: protesting at the mall I Ride: faster than I should, but slower than you. |
Anywho - alternative energy FTW! Let's pull our mouths off the Arabian oil teat. Unless she's hot...then carry on. | |
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07-03-2009, 02:06 PM
| #25 | |
| Retired Joined: Mar 2006 From: spokane, wa I Ride: 2006 R6 |
You must not be very old. I can't agree more, let's get our own oil and say "fuck you" to all the off shore companies. That'll get them to drop their prices. | |
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07-03-2009, 04:57 PM
| #27 | |
| Zone Head Joined: Mar 2009 From: Spokane Valley I Ride: Suzuki Boulevard C90, Honda CM250C |
 KevinD | |
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