As oil surges prices at the pump surge too. Though still not in line with real cost to profit values. When oil was $26.6 dollars a barrel (adjusted for inflation is was it was $58.52)1985-86. Only 5 years earlier it was $4 a barrel. Gas was $.30/l. Or $.66/l with inflation to today's values. (There abouts maybe even cheaper depending on your city). So in reality we are at 1985 prices for oil but 1995 prices for gas... Still making sure profit margins stay higher than fair. Production is outstripping demand and if Eco choices continue at current trends I would think that should continue.
OPEC is claiming oil will ROCKET to $200 per. At the same time the sudden rise of prices is being called a "dead cat bounce" and that we will see $40 oil before we will see a $60 Barrel. Someone is not smelling what they are shovelling and only time will show who.
FILLER UP WHILE YOU GOT EM!
Yours in Clay & Water
#opec, #inflation, #gasprices, #oilprices, #deadcatbounce, #cnbc, #reuters
Thank you Reuters and CNBC for the feed