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zonemaster

(252 posts)

9. Here's a helpful graph illustrating oil-industry gouging

Reply to kacekwl (Original post)

Wed Jul 26, 2023, 11:40 AM

Jul 2023

The vertical distance between the orange line (average retail price for gasoline) and the blue line (West Texas Intermediate crude oil cost) is an approximation of profits over time. "Approximation" because there are also other material / production costs that aren't factored in, but it looks like refined petroleum products have been exceedingly profitable, of late.

https://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart

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What could possibly be the reason [View all] kacekwl Jul 2023 OP

Last week they went up 40 cents overnight in central Pa. gab13by13 Jul 2023 #1

Oil companies decided that inflation needs to go back up. dchill Jul 2023 #2

+1 uponit7771 Jul 2023 #3

We live in an oiligarchy. dchill Jul 2023 #4

All kinds of possibilities - price changes usually relate to the price of crude oil or something Ocelot II Jul 2023 #5

Maybe the Saudis are raising money to buy major league baseball? Eyeball_Kid Jul 2023 #8

+1 2naSalit Jul 2023 #12

OPEC and Russian cuts in production, SCantiGOP Jul 2023 #6

Up 46c in Tennessee yesterday jojog Jul 2023 #7

Here's a helpful graph illustrating oil-industry gouging zonemaster Jul 2023 #9

Did Biden's ratings go up? usonian Jul 2023 #10

It went up in Florida too. 3.59 a gallon. I looked at my tank gage and was glad it was jimfields33 Jul 2023 #11