Re: [ST] FYI Gas prices

["David J. Hughes" <bambi@xxxxxxxxxxxxx>]

On 07/04/2005, at 11:52 PM, iPat wrote:

> the price of oil goes down and production slows down, the price rises
> and production goes up. OPEC manages the volume in order to keep price
> within certain margins.

The thing that gets up my nose is the "spontaneous" link between 
international crude prices and bowser/pump petrol.  In Australia we 
often see the price at the pump jump within 36 hours of an announcement 
of a new record price for a barrel of crude.  The oil companies always 
point to the crude price to justify retail pricing.  But, unless there 
has been an incredible advancement in the time required to transport 
oil from the other side of the world and then refine it, I'm thinking 
it's a load of crap.


David
...


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