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Iran and fuel prices





standready
Iran just threatens block the straits and the oil companies jump for joy at yet another excuse to increase profits. I don't see where the cost per barrel has gone up instead has gone down. Supplies are up even. Yet price at the pumps has risen over 15 percent this week. Shame on the oil companies doing their best to sink the economy and the government for NOT stopping them.
standready
bhollen76 wrote:
I came across this report today - http://www.fastmr.com/prod/283856_joint_ventures_in_the_petrochemical_industry_key.aspx.
I'm not familiar the publisher, but it looks pretty focused. Anybody here know the company?

Link did not work for me.
ocalhoun
standready wrote:
I don't see where the cost per barrel has gone up instead has gone down. Supplies are up even. Yet price at the pumps has risen over 15 percent this week.


The price at the pumps is based on the expected future price.
--That's because gas stations run on thin margins when selling fuel. If they sell it for $3.10 today, and need to refill their storage tanks at $3.30 tomorrow, they'll go out of business. So, if they expect it to cost $3.30 tomorrow, they'll charge $3.30 for it today so they can afford to refill.
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