Monday, February 09, 2009

Can Anyone Explain?

On Friday the closing price on West Texas Intermediate cruse oil was $40.17 per barrel. The price of a gallon of regular at three stations near where I live was $1.77 a gallon. This morning it had jumped to $1.85 a gallon. According to Bloomberg at 12:05 EST the price was $41.10 per barrel for West Texas Intermediate crude. Similar situations have been occurring for the last couple of weeks. Can anyone explain this to me. Have basic laws of economics been changed?
Update: Had to fix link.


MilesPerHour said...

It's beyond me.

KurtP said...

Because they don't want to go through Congress for their stimulus, the'd rather avoid the B.S. of Democrats grandstanding and get it the money at the source.