Oil Prices DOWN - The 1947 - Present Chevrolet & GMC Truck Message Board Network

*Phillip Johnson* · 03-21-2003, 08:14 PM

Well, for the 3rd day in a row, the price of oil has dropped. I wonder how many months it will take it to hit the gas pumps as the raised the hell out of gas before there was ever a problem.. ANY COMMENTS?????

JimKshortstep4x4 · 03-21-2003, 08:18 PM

Gas prices in this area have dropped $.20 a gallon in the last week.

Jim

Project1970 · 03-21-2003, 08:29 PM

Gas here is going up, up, and up, but that's because Phoenix uses a special blend of winter gas that the refineries don't want to produce anymore...in about a week and some, though, the price should drop right back down.

Alexis · 03-21-2003, 08:29 PM

there is talk about gas price per barrel being less then 20 buck......today the price per barrel fell more then a dallor

Alexis · 03-21-2003, 08:33 PM

some light reading....
http://channels.netscape.com/ns/pf/p...iraq/oilprices

mikep · 03-21-2003, 11:03 PM

The price of crude is only a small part of the price of gasoline. If it were just crude price increases over the last few months the price of gas would have increased 30 cents a gallon or so. Not 70 cents. This is all profit taking.

Maximum Overdrive · 03-21-2003, 11:43 PM

They had a article about gas prices and the claims of oil companies about the prices. They said that half the cost of a gallon of gas was the cost of the oil. The other half then would be taxes and cost of production, transportation, selling etc.

Anyway I have kept track of local prices vs market oil prices and gas prices went up much more than the actual increases in oil price. When I started keeping track gas price here was 1.41 and at its highest point so far its 1.65. If you relate that to oil price changes the highest gas should have gone should have only been 1.45 here. When oil went up the price of gas would go up the next day. Oil prices have dropped and we are yet to see gas prices drop. Pretty clear that it price gouging by the oil companies. Bet next quarter reports the companies claim an increase in profits.

O'l Buck · 03-22-2003, 02:33 AM

I was talking to a guy several years ago who worked in a refinery and was now retired. He told me that the it cost about $.05 for every $1.00 in a barrel of oil to make a gallon of gasoline. The rest is blends and additives, not alot of crude in a gallon of gas. Then they make propane, kerosene, diesel fuel, motor oil, hydraulic oil, poly's, etc, etc.......they milk a barrel of oil for all it's worth and only 5% of it ends up as gasoline!!!!!.......Basically what he was saying is that if a barrel of oil cost $20, $.010 ends up as gasoline. I'm sure EPA regulations as to storeage takes a pretty good portion of it, transportation takes a little, but hauling gas doesn't pay very well. Mostly big profits for big oil companies.............makes me sick.

72MARIO · 03-22-2003, 12:04 PM

My dad said that gas is down20 cents per liter today the drop just came here now 63.8 or so 87 oct. Yippie ! I can drive the Burban hard again and still be able to afford gas.

casey · 03-22-2003, 04:37 PM

those dam pirates

smokekiki · 03-23-2003, 12:09 PM

As far as the cost of transportation...here in southeastern pa,we have a sunoco, tosco,bp,and coastal refineries.Our gas is higher than central pa.When I go to my parents,in reading pa,the gas is .25 ag allon less.It is 30 miles west of me.

03-21-2003, 08:14 PM	#1
Phillip Johnson Account Suspended Join Date: Apr 2000 Location: Grants Pass, Oregon Posts: 1,580	Oil Prices DOWN Well, for the 3rd day in a row, the price of oil has dropped. I wonder how many months it will take it to hit the gas pumps as the raised the hell out of gas before there was ever a problem.. ANY COMMENTS?????

03-21-2003, 08:29 PM	#3
Project1970 14.1 @ 96MPH Join Date: Jul 2001 Location: Mesa, AZ Posts: 2,811	Gas here is going up, up, and up, but that's because Phoenix uses a special blend of winter gas that the refineries don't want to produce anymore...in about a week and some, though, the price should drop right back down. __________________ Project1970 - LS1 Swap Complete!

03-21-2003, 11:03 PM	#6
mikep Used to have a truck Join Date: May 2002 Location: port orchard WA Posts: 1,552	The price of crude is only a small part of the price of gasoline. If it were just crude price increases over the last few months the price of gas would have increased 30 cents a gallon or so. Not 70 cents. This is all profit taking. __________________ No truck :-(

03-22-2003, 02:33 AM	#8
O'l Buck Recovering Truck Driver Join Date: Mar 2002 Location: Orleans, NE USA Posts: 1,883	I was talking to a guy several years ago who worked in a refinery and was now retired. He told me that the it cost about $.05 for every $1.00 in a barrel of oil to make a gallon of gasoline. The rest is blends and additives, not alot of crude in a gallon of gas. Then they make propane, kerosene, diesel fuel, motor oil, hydraulic oil, poly's, etc, etc.......they milk a barrel of oil for all it's worth and only 5% of it ends up as gasoline!!!!!.......Basically what he was saying is that if a barrel of oil cost $20, $.010 ends up as gasoline. I'm sure EPA regulations as to storeage takes a pretty good portion of it, transportation takes a little, but hauling gas doesn't pay very well. Mostly big profits for big oil companies.............makes me sick. __________________ 67 K-20 350, SM465, Eaton rear, 4.56 no spin option 00 Dodge 2500 4x4, 24V cummins, 5 speed Chad South Central Nebraska

03-22-2003, 12:04 PM	#9
72MARIO Registered User Join Date: Nov 2000 Location: Huntsville Ontario Canada Posts: 4,052	My dad said that gas is down20 cents per liter today the drop just came here now 63.8 or so 87 oct. Yippie ! I can drive the Burban hard again and still be able to afford gas. __________________ 1968 Suburban numbers matching all original truck now equipped with 6.0/4L80 on Accuair http://67-72chevytrucks.com/vboard/s...d.php?t=625017 1967 C/20 6.0/4L80 Roofing Truck 1990 V2500 Suburban "Plow Truck" 2005 TAHOE DD

03-21-2003, 08:18 PM	#2
JimKshortstep4x4 Senior Member Join Date: Jul 2001 Location: Muskegon,MI,USA Posts: 6,026	Gas prices in this area have dropped $.20 a gallon in the last week. Jim

03-21-2003, 08:29 PM	#4
Alexis Member since 2000 Join Date: Dec 2000 Location: Mountain View Ca / Mexico Posts: 7,879	there is talk about gas price per barrel being less then 20 buck......today the price per barrel fell more then a dallor

03-21-2003, 08:33 PM	#5
Alexis Member since 2000 Join Date: Dec 2000 Location: Mountain View Ca / Mexico Posts: 7,879	some light reading.... http://channels.netscape.com/ns/pf/p...iraq/oilprices

03-21-2003, 11:43 PM	#7
Maximum Overdrive December 21, 2012 Join Date: Apr 2000 Location: Black Eagle, Montana Posts: 1,634	They had a article about gas prices and the claims of oil companies about the prices. They said that half the cost of a gallon of gas was the cost of the oil. The other half then would be taxes and cost of production, transportation, selling etc. Anyway I have kept track of local prices vs market oil prices and gas prices went up much more than the actual increases in oil price. When I started keeping track gas price here was 1.41 and at its highest point so far its 1.65. If you relate that to oil price changes the highest gas should have gone should have only been 1.45 here. When oil went up the price of gas would go up the next day. Oil prices have dropped and we are yet to see gas prices drop. Pretty clear that it price gouging by the oil companies. Bet next quarter reports the companies claim an increase in profits.

03-22-2003, 04:37 PM	#10
casey Registered User Join Date: Jan 2003 Location: Kelowna B.C. Canada Posts: 2,048	those dam pirates

03-23-2003, 12:09 PM	#11
smokekiki Mike Join Date: Jan 2003 Location: west chester pa Posts: 2,474	As far as the cost of transportation...here in southeastern pa,we have a sunoco, tosco,bp,and coastal refineries.Our gas is higher than central pa.When I go to my parents,in reading pa,the gas is .25 ag allon less.It is 30 miles west of me. __________________ 70'c/10, 71 suburban4x4 402bb, 72suburban 4/6 drop, 72k/5 4x4 blazer 4" lift 35 tires



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