Drop in oil prices

[SilvrSRT10]

And how much did they have to invest to earn this profiT?
Also how many people did they employ while earning this profit?

The oil companies gross profit margin is 4-10%!

I don't see any greed there!

Lets look at the whole picture!!!

Investments and salaries come out before final profit is figured.
True 4-10% does not sound like much.
$18-$40 Billion does.
Maybe we should get some of the oil company exec's to run the country.
They could only take 4-10% of our salaries and still show a profit for the USA.:congrats:

 

[Marc T]

Investments and salaries come out before final profit is figured.
True 4-10% does not sound like much.
$18-$40 Billion does.
Maybe we should get some of the oil company exec's to run the country.
They could only take 4-10% of our salaries and still show a profit for the USA.:congrats:

Great Idea!!!:rock:

 

[TREKER]

Dropped .02 cents here since last Friday. Now $4.17 is a bargin... :dontknow:

Total bs... Time for a revolution....

 

[ChrisAZ]

We have an oil exec running the country now. Sort of. It is pure bullshit that as soon as the per barrel cost goes up so do the prices at the pump but the same does not happen when the price per barrel drops. If the oil companies are truly making only 4 to 10% net profit then they are not screwing the public. Hell, my company makes 40 to 50% net profit.

America and the stock market especially is like a flock of birds. We all panic and fly off in the same direction over everything. It's a herd mentality we have. The media starts to report that the economy is in for trouble or some other doom and gloom and the whole country panics which just accelerates the problem and ensures it will become reality.

 

[JeffBoyette]

Things always go up, and never come down........
Don't you know this already

And at 24 years old, i have that problem too!

 

[wesalbert]

Noticed on my way home. Friday $4.12 today (monday) $4.05

 

[SilvrSRT10]

Noticed on my way home. Friday $4.12 today (monday) $4.05

If the rest of the nation is anything like around here the fuel prices most always go up over the weekend and then slowly come back down during the week. Wednesday is often the best time of the week to buy gas because it starts going back up Thurs. & Fri. for the coming weekend. At least that's a trend we are noticing here.

 

[wesalbert]

If the rest of the nation is anything like around here the fuel prices most always go up over the weekend and then slowly come back down during the week. Wednesday is often the best time of the week to buy gas because it starts going back up Thurs. & Fri. for the coming weekend. At least that's a trend we are noticing here.

They have been steady throuhout the week, except for when it just goes up. I will pay attention now to see if your right.

 

[Black1]

Investments and salaries come out before final profit is figured.
True 4-10% does not sound like much.
$18-$40 Billion does.
Maybe we should get some of the oil company exec's to run the country.
They could only take 4-10% of our salaries and still show a profit for the USA.:congrats:

It doesn't pay enough....

 

[iraqivet01]

$3.59 at the 7-11's in OKC this last weekend for 89 octane
$3.91 for 91 octane.

All other gas stations were still selling it for .25 higher.

 

[SilvrSRT10]

It doesn't pay enough....

Yer right! They'd have to be dragged kicking and screaming all the way to the White House. But it would be interesting if we could get a group of people to run the Government like a business and at least try to break even. A good first goal would be to start the deficit clock running in the other direction.

 

[Dom426]

diesel dropped 50 cents here 4.49 a gallon reg dropped 25 cents down to 3.88

 

[Venom Power]

diesel dropped 50 cents here 4.49 a gallon reg dropped 25 cents down to 3.88

That still puts 93 over 4 bucks.. I wanna see 93 down to $3.88. That would be nice, in a cosmic sort of way..

 

[500snakz]

Gas here is 3.70 and 93 is 3.90 today in virginia beach.

 

[iraqivet01]

I've been using my Harley for a daily driver since gas has gone up. I usually drive my Nissan Altima for my daily 120 mile commute to work and back.
It has saved me about $30.00 a week.
It still sucks when it was costing $17.00 to fill a 4 1/2 gallon tank.

 

[TREKER]

Oil dropped again yesterday.

I know it will not drop gas prices overnight but I would like to see it change in the same manner it went up. I think we will never see prices drop under $3 per gallon again even if oil drops to $70 per barrel again. Question is.... Why?

http://www.iht.com/articles/2008/07/30/business/30crude.php

 

[bigike]

Lets not let them drop too much. Daddy needs that job!

 

[FastSRT19]

93 octane is down to 3.94 here in my neck of the woods...

 

[OCBob]

I'll tell a story about when I worked in the oil industry, and let everyone here decide if it was a case of greed or not.

I worked for a very old local oil company at the time. We purchased our fuel products from a number of the refineries in the Carson area, including Exxon, Mobil, Shell, pretty much anybody except ARCO. I had refinery cards for every refinery in the Long Beach and Paramount areas, from the smallest to the largest.

I was working the day that Iraq invaded Kuwait. And shit went crazy. The lines at the refineries were hours long, as everyone wanted to grab fuel at the cheapest they could get it. Within a couple of hours wholesale prices were up 10 cents a gallon and climbing. So of course we filled every storage tank we had as well as every single truck in the fleet. By the next morning prices had surged even higher.

Of course retail prices went up, way up. But the thing is, all that fuel was really purchased at much lower prices, it would be some time before the cost increase was really felt at the refineries. So millions and millions of gallons of fuel were sold at a greatly increased profit. What a windfall for the oil companies, both large and small. All this because one oil producing country was in turmoil.

Another thing to consider is how all the prices at all the refineries were raised at the same times and the same amounts. Do the words collusion and price fixing mean anything to anyone? I actually thought that was illegal, but what do I know?

Maybe it wasn't greed that drove that, but if it wasn't I'm not sure what it was.

 

[TREKER]

I'll tell a story about when I worked in the oil industry, and let everyone here decide if it was a case of greed or not.

I worked for a very old local oil company at the time. We purchased our fuel products from a number of the refineries in the Carson area, including Exxon, Mobil, Shell, pretty much anybody except ARCO. I had refinery cards for every refinery in the Long Beach and Paramount areas, from the smallest to the largest.

I was working the day that Iraq invaded Kuwait. And shit went crazy. The lines at the refineries were hours long, as everyone wanted to grab fuel at the cheapest they could get it. Within a couple of hours wholesale prices were up 10 cents a gallon and climbing. So of course we filled every storage tank we had as well as every single truck in the fleet. By the next morning prices had surged even higher.

Of course retail prices went up, way up. But the thing is, all that fuel was really purchased at much lower prices, it would be some time before the cost increase was really felt at the refineries. So millions and millions of gallons of fuel were sold at a greatly increased profit. What a windfall for the oil companies, both large and small. All this because one oil producing country was in turmoil.

Another thing to consider is how all the prices at all the refineries were raised at the same times and the same amounts. Do the words collusion and price fixing mean anything to anyone? I actually thought that was illegal, but what do I know?

Maybe it wasn't greed that drove that, but if it wasn't I'm not sure what it was.

Nice post Bob... Hard to have something illegal when they are the ones making the law.

When NY had that blackout a few years back, gas stations on LI and NYC shot prices up immediately. Some to $4 per gallon. People were going crazy. One gas station was set on fire by a group of people.

There is NO gas or oil shortage yet we are paying prices as if there were. You never see a gas station closed due to not having any gas. You often see multiple station right next to each other with differnt prices and both still have many customers.

It is sickening what is going on here. Absolutely no excuse for it. We would be astonished if our economy was able to function as smoothly as the way gas prices have gone up.

My mother once told me everything that goes up, comes down... Except for age....