Here’s a good trick. Price of oil has potential to go up; gas prices immediately go up by a larger percentage. . . but. . . .oil prices go down in reality, gas prices very slowly and reluctantly go down by a smaller percentage.
They’re just always winning, pure and simple. It’s this perfect industry where it doesn’t seem to matter whether things swing massively one way or the other. Every change in supply or demand is a good thing. I remember, back when i had a car, how everyone kept complaining about how gas was going to hit the $1 a litre benchmark. Of course its been there and above for years; they’ve gotten us used to the idea. Now the price of oil has come down and so has gas, but only to a lesser degree. Eventually, we’ll start hearing about how “the price of oil is going to go back up!”; based on this potential the price of gas will then increase while oil again stays behind.
The price of a litre is slowly drifting closer to the price of a barrel.
That’s the real number to watch, wait until oil is at $50 and gas is at $1. Then we can complain about that benchmark, and nothing will happen.
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