Crude oil is getting cheaper — so why isn't gas?
By CHRIS KAHN and JOHN PORRETTO, AP Energy Writers – 1 hr 22 mins ago
NEW YORK – Crude oil prices have fallen to new lows for this year. So you'd think gas prices would sink right along with them.
On Thursday, for example, crude oil closed just under $34 a barrel, its lowest point for 2009. But the national average price of a gallon of gas rose to $1.95 on the same day, its peak for the year. On Friday gas went a penny higher.
To drivers once again grimacing as they tank up, it sounds like a conspiracy. But it has more to do with an energy market turned upside-down that has left gas cut off from its usual economic moorings.
The price of gas is indeed tied to oil. It's just a matter of which oil.
The benchmark for crude oil prices is West Texas Intermediate, drilled exactly where you would imagine. That's the price, set at the New York Mercantile Exchange, that you see quoted on business channels and in the morning paper.
Right now, in an unusual market trend, West Texas crude is selling for much less than inferior grades of crude from other places around the world. A severe economic downturn has left U.S. storage facilities brimming with it, sending prices for the premium crude to five-year lows.
OK, all together now. . . . BULLSHIT!!!!!
These "AP Energy Writers" are nothing but oil industry lackeys. I wonder how much kick-back they're getting from this article. . . free gas for life?
Man I hate this kind of bullshit, but what I hate worse is that the average prole will think "oh, so that's why the price of crude is at an all time low and gas prices are going up." You dumb fucks. How is it that all of a sudden we've got this lame assed explanation for the price of gas at the pump? "Ah" the dumb fuck proles say "it's all about Texas crude." STFU you morons. It hasn't been all about Texas crude for 30 fucking years. You're being duped. Once again the corpo-fascists are telling you lies and half truths that you're swallowing like a three dollar back alley whore.
So what can you do about it? Not much. You can write your congresspeople and let them know you are outraged and really pissed off about the price gouging that the oil companies are perpetrating on the Amurkkkin public. But most congress people are in the pockets of big oil so that won't do much good. You can e-mail the White House.
You can also get the best deal on gasoline you can find. There are on-line sources that have daily updates for the location of the cheapest priced gas in most populated areas of Amurkkka. Just do a Google or Yahoo search for "cheap gas" and you'll find them.
The other thing is to get discount gas cards. I've got a charge card with my local grocery store name (Kroger) on it and I get 15 cents off per gallon at the pump with it.
The best deal I've seen is another local grocery (Foodland) and their gas company affiliate (BP) that has something called "Fuel Links." With fuel links, you can purchase items in Foodland and BP stores that are designated "Fuel Links" items and get a certain amount off per gallon for each item you buy. I've seen my wife go into the place and do a bunch of shopping and walk out with two bucks off the price of a gallon of gas. While you're shopping you look for the blue labels by the price labels and it'll tell you how much off for each gallon that item will give you. If it's 3 cents off and you buy three of them, you get 9 cents off per gallon the next time you get gas at their pumps or a local BP station.
I also know that various gas companies offer reduced prices on gasoline for a certain period of time when you get one of their credit cards. What the hell, get one of their credit cards, use it till the time period is up and then shred it.
But in the end, you're still going to pay out the nose while the oil companies continue making record profits, so bend over, grab your ankles and try not to cry out.
When you're at the pumps, you might also want to think about those making minimum wages and paying the same amount you are. They probably aren't driving modern fuel efficient vehicles either.
Sorry TriState, I tried.