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Oil price falls while gas prices are rising

Journal Sentinel -- The price of crude oil has fallen sharply on world markets in recent days, usually a signal that the cost of gasoline will be coming down soon, too.

Maybe not this time.

As crude oil futures were falling, the price of gasoline futures was rising Wednesday amid relatively tight fuel inventory and an explosion at a refinery in Canada that is a big supplier of gasoline to the U.S. East Coast.

"We've got crude oil going down and gasoline going up," said Jim Ritterbusch, president of Ritterbusch and Associates, an oil trading advisory firm just south of Wisconsin in Galena, Ill. "People will see on the evening news that crude prices dropped below $90 a barrel today and they will think that's going to equate to lower pump prices, and that's not going to happen, unfortunately."

The conditions


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Submitted Sep 27, 2012 By: angel4me
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Author Topic: Oil price falls while gas prices are rising Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Oct 2, 2012 4:49:58 AM

flag: one word: Greed.
flagtown25
Champion Author New Jersey

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Message Posted: Sep 30, 2012 11:19:05 PM

Now I know why prices are increasing.
honda0105
Champion Author Tallahassee

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Message Posted: Sep 30, 2012 11:01:51 PM

WalkingWV: how so?
WalkingWV
Champion Author West Virginia

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Message Posted: Sep 28, 2012 10:12:02 AM

We allow this.
Nicoalbum
Champion Author Ottawa

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Message Posted: Sep 27, 2012 6:22:37 PM

Yes, gas prices are again on a rise

[Edited by: Nicoalbum at 9/27/2012 7:23:22 PM EST]
lesndave
Champion Author Texas

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Message Posted: Sep 27, 2012 4:43:28 PM

Not surprised ! ! !
Soglaos
Champion Author Virginia Beach

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Message Posted: Sep 27, 2012 1:41:23 PM

No surprize here
Grandpa297
Sophomore Author Illinois

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Message Posted: Sep 27, 2012 1:22:58 PM

Raise your hand if you are surprised. Thought so. Not a one.
clpassenubye
Champion Author Los Angeles

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Message Posted: Sep 27, 2012 12:37:17 PM

disappointing
sparky808
Champion Author Honolulu

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Message Posted: Sep 27, 2012 12:24:24 PM

Thank you for posting.
rjojo40
Champion Author Las Vegas

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Message Posted: Sep 27, 2012 12:14:57 PM

of course.
CapriceWagon
Champion Author Washington

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Message Posted: Sep 27, 2012 12:09:58 PM

Fantastic...
Marson
Champion Author Scranton

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Message Posted: Sep 27, 2012 11:25:15 AM

What the ___K?
nskmda
Champion Author Grand Rapids

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Message Posted: Sep 27, 2012 11:18:47 AM

the usual story
JXQW
Champion Author Kansas City

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Message Posted: Sep 27, 2012 10:52:32 AM

it is more than just speculators, it also involves ridiculously huge refinery profit
Tomeboy
Champion Author Twin Cities

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Message Posted: Sep 27, 2012 10:25:02 AM


Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services.
stoopsy
Champion Author Columbus

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Message Posted: Sep 27, 2012 10:15:37 AM

no maybe not about it
jiml1965
Champion Author Harrisburg

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Message Posted: Sep 27, 2012 10:14:22 AM

excuses for greed
puinsai808
Champion Author Honolulu

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Message Posted: Sep 27, 2012 10:06:48 AM

ok
BigRedVTX
Champion Author Georgia

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Message Posted: Sep 27, 2012 10:01:28 AM

Seems the law of supply and demand has been broken a number of times of late.
BudsterMO
Champion Author Kansas City

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Message Posted: Sep 27, 2012 9:51:42 AM

You can thank Wall Street speculators for this unnatural cost to price disparity.
fuel2use
Champion Author Seattle

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Message Posted: Sep 27, 2012 9:49:53 AM

Does not make sense to most.
us4usa
Champion Author Missouri

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Message Posted: Sep 27, 2012 9:48:07 AM

Face it folks Big Oil has us right where they want us... They make big profits controlling the supply...
Tomeboy
Champion Author Twin Cities

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Message Posted: Sep 27, 2012 9:45:16 AM


Consumer three times a loser.

Supply and Demand:

When supply of gasoline drops and demand goes up, prices rise.

When supply of gasoline drops and demand remains the same, prices rise.

When supply of gasoline drops and demand drops, prices rise.

Big Oil... We get you coming and going... Have a nice day!

schvanda63
Champion Author Lansing

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Message Posted: Sep 27, 2012 9:44:56 AM

"...and an explosion at a refinery in Canada that is a big supplier of gasoline to the U.S. East Coast."

Planned or "accidental". Anything to keep the prices higher.

Red7002011
Champion Author Mississippi

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Message Posted: Sep 27, 2012 9:43:38 AM

Really!!!
orcar
Champion Author Boise

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Message Posted: Sep 27, 2012 9:42:45 AM

Maybe Obama and Congress can fix this....and I believe in Santa too.
Ken2OD
Champion Author Grand Rapids

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Message Posted: Sep 27, 2012 9:41:35 AM

What's new?
generok
Champion Author Atlanta

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Message Posted: Sep 27, 2012 9:40:16 AM

Interesting.
FortVancouver01
Champion Author Washington

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Message Posted: Sep 27, 2012 9:38:24 AM


It is called price manipulation, which is usually illegal and called price fixing in most industries but Congress seems to have exempted big oil.



Suzzoom
Champion Author Nevada

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Message Posted: Sep 27, 2012 9:37:52 AM

Big Oil will do whatever necessary to ensure a big profit.
LQQKGAS
Champion Author Phoenix

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Message Posted: Sep 27, 2012 9:36:25 AM


White collar crime with no white collar police!
Maybe white turbine and robe crime?

[Edited by: LQQKGAS at 9/27/2012 10:38:39 AM EST]
LtRTH
Champion Author St. Louis

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Message Posted: Sep 27, 2012 9:36:18 AM

Another refinery problem and it's not even in the U.S. this time. We need more refineries so when accidents happen the supply is not so adversely affected. And let's quit exporting gasoline. Keep it here. I just don't understand why we export when supplies are low and then we also import gasoline at the same time. Less exported gasoline means less imported gasoline.
dchiou
Champion Author San Jose

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Message Posted: Sep 27, 2012 9:35:37 AM

it makes no sense...
packards42
Champion Author Washington

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Message Posted: Sep 27, 2012 9:35:35 AM

WHy do the doomsayers alway take a negative take on crude price dropping.
PrepHermit
Champion Author New Jersey

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Message Posted: Sep 27, 2012 9:35:18 AM

You knew it would be too good to be true.
LQQKGAS
Champion Author Phoenix

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Message Posted: Sep 27, 2012 9:35:12 AM


MONOPOLY:
ILLEGAL
jetmech568
Champion Author Idaho

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Message Posted: Sep 27, 2012 9:34:42 AM

lets see... war looming with iran, a president that WANTS higher prices so he can push the "green" energy plan and he doesn't do one thing to ease the problems on oil production.
RAKARWOWSKI
Champion Author Chicago

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Message Posted: Sep 27, 2012 9:34:20 AM

My but hurts just reading this!
Prodaddy
Champion Author Houston

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Message Posted: Sep 27, 2012 9:34:08 AM

We are in a no win situation
blazerbob91
Champion Author Milwaukee

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Message Posted: Sep 27, 2012 9:33:12 AM

Futures point to a rise to $4 again
OnEmptyMO
Champion Author St. Louis

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Message Posted: Sep 27, 2012 9:32:55 AM

Does not make sense at all.
PFCASTA
Champion Author Worcester

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Message Posted: Sep 27, 2012 9:32:33 AM

QUICK TO RISE SLOW TO FALL
tomok
Champion Author Portland

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Message Posted: Sep 27, 2012 9:32:32 AM

Oil price falls while gas prices are rising? This is nothing new! Isn't this what oil prices and fuel prices have been doing for a long time now! Oil prices are down and fuel prices at the pump are up!
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
12/22/2012!
WVUtailgater
Champion Author Cleveland

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Message Posted: Sep 27, 2012 9:32:14 AM

just what we need
Wolfwings
Champion Author Delaware

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Message Posted: Sep 27, 2012 9:32:13 AM

Sad
bbthegun
Champion Author San Diego

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Message Posted: Sep 27, 2012 9:32:04 AM

What a bunch of crap! Build more refineries already!!
Panama Red
Champion Author San Diego

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Message Posted: Sep 27, 2012 9:31:40 AM

Why am I not surprised?
bridgerunner
Champion Author Virginia

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Message Posted: Sep 27, 2012 9:31:33 AM

I have not seen any rational explanations for this.
Minutefan
Champion Author Springfield

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Message Posted: Sep 27, 2012 9:30:51 AM

two words...rip off

New refineries are needed closer to the sources of new domestic oil production. However oil companies should use their windfall profits to build them and NOT use constrction as an excuse to keep gouging us at the pump.
us30ride
Champion Author Fort Wayne

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Message Posted: Sep 27, 2012 9:30:49 AM

Getting tired of bending over!
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