GOPwinger Lies/Distortions/Omissions/Perversions of Truth Message Board

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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth

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To: Selectric II who wrote (28162)	10/10/2004 10:30:49 AM
From: jttmab	Read Replies (3) of 173976

As your skills as an economic whiz are so high, perhaps you can help me with this little free market economic puzzle I've been working on...... It seems that most people believe that the price of crude has some relationship to the price of gasoline. Seems reasonable as an average of 19.2 gallons of gasoline are extracted from a barrel of crude. The average price of gasoline hit a record high [$2.054/gal] on May 26 of this year when the price of crude was around $41/barrel. The price of crude is now at $53/barrel, yet the average price of gasoline [$1.954/gal] is lower than it was on May 26. What economic model do you have that explains why the price of crude has gone up nearly 30%, and the average price of gasoline has dropped by nearly 5%? Extra Credit: Does it follow that if the price of crude continues to increase that the price of gasoline will continue to decrease? fuelgaugereport.com jttmab

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