how does a 1 dollar increase in the price of oil per barrel, affect the price at the pumps?

for instance… the price of oil increases 1 dollar per barrel and the price at the pump goes up 10 cents?

4 Responses to “how does a 1 dollar increase in the price of oil per barrel, affect the price at the pumps?”

  1. Pops Says:

    Thats a good question. You would have to find out how many gallons of gas is produced from one barrel of oil. I would think that would vary depending on the quality of the oil.

    IF there were only 10 gallons of gas squeezed out of a barrel of oil…..the 10 gallons at 10 cents equal a dollar.

    I, personally, don’t believe it works that way. I believe that IF oil increases one dollar, the oil companies AND dealers see that as an opportunity, and excuse, to kick their price up far and beyond what would be required. Pops

  2. Silverstang Says:

    Its kind of related, but they have stock on gasoline too. If oil goes up, most cases that gasoline will follow suit. You can goto NYMEX.com to follow them. Is under energy category.

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