Largest single day oil price increase in world history

Harry B

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Price gouging because it takes oil months to get from overseas and be processed.

Habibi and Chad and 'nem making a killing

You're paying higher prices for oil and gas that's been processed weeks and months ago.
lol that’s not how things work.

First and foremost every producer has a different break even price. Second, index prices is not what physical oil traders pay. Oil they deliver today might’ve been bought 2 years ago. What’s happening now is that the freight prices for a large part of the world’s supply have jumped like 1000%. And to add to that, supply is not free market based there is a large cartel OPEC+, and furthermore prices (not just oil, all commodities and products) take future supply into consideration and on. The market is very complex and the hike is super reasonable.
 

Lucky_Lefty

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I wonder if we'll see those "I Did That" stickers again next to the pump but with Trump :mjpls:

Just in case you need some
starship-troopers.gif
 

Stuntone

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IT Cert-Gang Mafia, GMB and HOH
Price gouging because it takes oil months to get from overseas and be processed.

Habibi and Chad and 'nem making a killing

You're paying higher prices for oil and gas that's been processed weeks and months ago.


Cocaine and other goods are processed and sit for months and sometimes years also. Shortages or even fear of future shortages will effect today's prices.
 
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