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Strategies & Market Trends : Waiting for the big Kahuna
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To: Qualified Opinion who wrote (80015)4/19/2008 5:36:09 AM
From: Real Man  Read Replies (1) of 94695
 
Well, I can't explain how oil can go up and hover above $100
for some time, while retail gas prices were virtually
unchanged since the Summer, when oil was $70, hovering
much BELOW Katrina levels of 2005 (when oil hit the top at
$70). A major economic puzzle. They said gas should be $4.50
at these oil prices. Yet, here we are in April, oil is at
$117, retail gas prices finally reached post-Katrina levels
when oil hit $70.

117 per barrel = $2.79 per gallon. That, if you put unrefined
oil in your tank, and don't pay any taxes. There are 42 gallons
in a barrel.
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