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tjts1,
Granted it is a futures market, however, if we revisit this thread 3 months from now (or had the same conversation 3 months ago, do you believe gas prices accurately reflect what oil was at per barrel. And, if today's $70 a barrel price drops to $40 a barrel 3 months from now do you believe gas prices will reflect that regardless of what OPEC decides at their "emergency meeting?"
How do you explain going to bed with gas at $4.00 a gallon a month ago and waking up to $3.90 a gallon the next day? 3 months ago to the day did the price of oil a gallon rapidly increase overnight?
I'm not trying to be a wise-guy...making my point from my previous post that OPEC can drastically effect gas prices at the pump with quick decisions regardless of what a barrel of crude cost 3 months ago. The cost of a barrel of crude is only 1 piece of the puzzle.
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