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Old 07-29-2008, 12:30 AM
 
Location: Houston, TX
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Because it actually takes about 40 days from when a crude is purchased until it gets processed and delivered to the local pump.
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Old 07-29-2008, 12:32 AM
 
Location: Houston, TX
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BTW in the last two weeks I have seen prices fall from $3.95/gal to $3.65/gal in Oklahoma.
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Old 07-29-2008, 10:06 AM
 
Location: Central CT, sometimes NH.
3,605 posts, read 5,337,229 times
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Still paying $4.15 to $4.20 a gallon in CT only $0.10 to $0.15 off the high despite a nearly 20% pull back in the price of crude.

It went up instantaneously sometimes $0.10 to $0.15 per day several days in a row! How about a few of those types of REDUCTIONS. The refinery issue didn't stop the quick mark up of oil purchased at a substantially lower refined price and delivered at spot market prices.
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Old 07-29-2008, 10:27 AM
 
55,257 posts, read 44,015,757 times
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Quote:
Originally Posted by Lincolnian View Post
Still paying $4.15 to $4.20 a gallon in CT only $0.10 to $0.15 off the high despite a nearly 20% pull back in the price of crude.

It went up instantaneously sometimes $0.10 to $0.15 per day several days in a row! How about a few of those types of REDUCTIONS. The refinery issue didn't stop the quick mark up of oil purchased at a substantially lower refined price and delivered at spot market prices.
Connecticut Gas Prices - Find Cheap Gas Prices in Connecticut

This site has gas as low as 3.89 in CT currently.

Basically, most businesses will NOT sell something for less than they paid for it so it seems to me that creates a floor or how the price can drop but it doesn't work the other direction if you have purchased an asset that subsequently increased in value.

For example, I bet you or someone you know in CT did EXACTLY the same thing with a house at some point. Shot up in value? Tap equity or sell and pocket the gain. Decreased in value? Hold onto it because you can't afford to sell it at a big loss.

Supply and demand. I can give you tons of examples.
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