Better Fill up today

frawin · August 30, 2011, 09:18:50 AM

Crude continues to move up at $88.63, up $1.36, with lots of contracts trading. My guess is the pump price will be moving up more.

larryJ · August 30, 2011, 10:07:35 AM

Naturally...............holiday weekend coming up.........thousands of people hitting the open road........still the price is a lot better than the $100 a barrel not too long ago.

Larryj

srkruzich · August 30, 2011, 10:15:01 AM

Quote from: frawin on August 30, 2011, 09:18:50 AM
Crude continues to move up at $88.63, up $1.36, with lots of contracts trading. My guess is the pump price will be moving up more.

Hell they haven't come down any.

frawin · August 30, 2011, 02:31:12 PM

Crude Oil settled at $88.90, up $1.63 on the day.

frawin · August 31, 2011, 06:09:01 AM

Crude is trading down at $87.88, off $1.02.

http://bloom.bg/pdMgPH

frawin · August 31, 2011, 09:37:39 AM

Crude has moved from negative to positive trading at $89.23, up $0.33.

frawin · August 31, 2011, 01:40:49 PM

Crude settled at $88.81, down $0.09 on the day.

frawin · September 01, 2011, 05:59:15 AM

Crude is trading at $88.72, down $0.09.

frawin · September 01, 2011, 11:20:45 AM

The crude market has moved up in volume and price both, currently trading at $89.76, up $0.95. Lots of contracts.

flintauqua · September 01, 2011, 11:42:12 AM

Frank,

I read an article in our local paper (the Arkansas Democrat Gazette) a few days ago that tried to pin the disconnect between falling oil prices and falling gasoline prices on the difference between the price for West Texas Intermediate and Brent North Sea crude prices and the glut of WTI at Cushing with not enough refining capacity to turn it into gasoline in the Midwest.

The article went on to say that the reason Arkansas gasoline prices were still high was that our gasoline comes from the Gulf Coast refineries and they use imported Brent, which is much more expensive than WTI right now.

I can't find the article, but I found this one from earlier in the year (from a better source):

http://oilprice.com/Energy/Oil-Prices/Why-are-WTI-and-Brent-Prices-so-Different.html

Question for you - Is the fact that gasoline is still high, while WTI is relatively cheap, caused by these logistics and infrastructure issues, or are they just an easy scapegoat to keep everything high?