Red Mosquito

Significant development, but haven’t they been moving this way for years? I remember reading a lot about it in 2018 or so.

McParadigm wrote:Significant development, but haven’t they been moving this way for years? I remember reading a lot about it in 2018 or so.

since 1913, 1944, and/or 1971 some might argue

but yeah you aren't wrong

Oil prices back down under $100 so there's that.

4/5 wrote:Oil prices back down under $100 so there's that.

But gas prices haven’t moved.

wease wrote:

4/5 wrote:Oil prices back down under $100 so there's that.

But gas prices haven’t moved.

Nope not yet. They're always slower to fall than to rise. The cheaper prices they're paying today doesn't reflect what they paid a few days ago for the gas that's currently at the pumps. But they should relax significantly in the next few days.

4/5 wrote:

wease wrote:

4/5 wrote:Oil prices back down under $100 so there's that.

But gas prices haven’t moved.

Nope not yet. They're always slower to fall than to rise. The cheaper prices they're paying today doesn't reflect what they paid a few days ago for the gas that's currently at the pumps. But they should relax significantly in the next few days.

But they RAISE the prices the moment a barrel of oil goes up in price, so your explanation makes no sense.

wease wrote:

4/5 wrote:

wease wrote:

4/5 wrote:Oil prices back down under $100 so there's that.

But gas prices haven’t moved.

Nope not yet. They're always slower to fall than to rise. The cheaper prices they're paying today doesn't reflect what they paid a few days ago for the gas that's currently at the pumps. But they should relax significantly in the next few days.

But they RAISE the prices the moment a barrel of oil goes up in price, so your explanation makes no sense.

So, gas prices lag behind oil prices both on the way up and down. We obviously notice and feel it more on this end. Here's data from the last few weeks. The math is mine so if there's a mistake on the percentages that's on me.

Gas:
2/21—3.53
2/28—3.60 (+1.9%)
3/7—4.10 (+13.9%)
3/14—4.31 (+7.6%)
3/17—4.28 (-0.7%)

Oil:
2/21—92
2/28—95.7 (+4%)
3/7—119.40 (+24.8%)
3/14—103.01 (-13.7%)
3/17—103.32 (+0.3%)

As you can see oil rose faster than gas, and the higher gas prices lagged a little behind the hikes, and now on the other side the same thing is happening: oil fell a lot faster and gas has just barely begun to nudge downwards.

(Note: about the dates I didn't cherry pick those dates those are the dates I found reliable data for and unfortunately they just had weekly numbers. Then I used this data for the oil numbers.)

Wease should have made fun of your degree and ended the debate then and there.

But he wasn’t arguing against my point. My point was the gas companies don’t wait until they start paying the higher prices of oil to raise the prices of gas. As soon as the oil price goes up they hike the price. Even tho they didn’t pay the higher oil price for what they already have on hand.

How then will they afford to buy future gas for their tank, wease?

Don’t take their side!

It's always frightening when wease taps into his car shaking anger.

I'm not taking a side, I'm just asking questions.

elliseamos wrote:I'm not taking a side, I'm just asking questions.

You can't be neutral on a moving, gas guzzling Ford Escape.

Um, neutral is the best way to waste gas, Lenny.

elliseamos wrote:Um, neutral is the best way to waste gas, Lenny.

Reverse.

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