Quote:
Originally Posted by tjts1
Its a futures market traded 3 months in advance. The price of crude oil today reflects the price of gasoline 3 months from now, not today.
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... and OPEC isn't to blame either.
Outlaw speculation on necessities like crude oil and you'll never see a huge price jump again. I'm no friend of OPEC but it's our own so called "free-market" that allows this.
BUT, the quoted statement isn't exactly true either. If the price of crude goes up today, your going to see an increase in fuel prices TODAY as well. When the three month marker rolls around we wont even remember what it cost today, let alone see a decrease in prices.