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Oil price falls while gas prices are rising

Journal Sentinel -- The price of crude oil has fallen sharply on world markets in recent days, usually a signal that the cost of gasoline will be coming down soon, too.

Maybe not this time.

As crude oil futures were falling, the price of gasoline futures was rising Wednesday amid relatively tight fuel inventory and an explosion at a refinery in Canada that is a big supplier of gasoline to the U.S. East Coast.

"We've got crude oil going down and gasoline going up," said Jim Ritterbusch, president of Ritterbusch and Associates, an oil trading advisory firm just south of Wisconsin in Galena, Ill. "People will see on the evening news that crude prices dropped below $90 a barrel today and they will think that's going to equate to lower pump prices, and that's not going to happen, unfortunately."

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Submitted Sep 27, 2012 By: angel4me

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honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Oct 2, 2012 5:49:58 AM Ignore honda0105 Report Abuse flag: one word: Greed.
flagtown25 Champion Author New Jersey Posts:1,177 Points:491,805 Joined:Oct 2011	Message Posted: Oct 1, 2012 12:19:05 AM Ignore flagtown25 Report Abuse Now I know why prices are increasing.
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Oct 1, 2012 12:01:51 AM Ignore honda0105 Report Abuse WalkingWV: how so?
WalkingWV Champion Author West Virginia Posts:3,701 Points:778,845 Joined:May 2008	Message Posted: Sep 28, 2012 11:12:02 AM Ignore WalkingWV Report Abuse We allow this.
Nicoalbum Champion Author Ottawa Posts:6,016 Points:1,187,900 Joined:Jan 2010	Message Posted: Sep 27, 2012 7:22:37 PM Ignore Nicoalbum Report Abuse Yes, gas prices are again on a rise [Edited by: Nicoalbum at 9/27/2012 7:23:22 PM EST]
lesndave Champion Author Texas Posts:3,032 Points:700,180 Joined:May 2011	Message Posted: Sep 27, 2012 5:43:28 PM Ignore lesndave Report Abuse Not surprised ! ! !
Soglaos Champion Author Virginia Beach Posts:2,770 Points:736,485 Joined:Feb 2011	Message Posted: Sep 27, 2012 2:41:23 PM Ignore Soglaos Report Abuse No surprize here
Grandpa297 Sophomore Author Illinois Posts:176 Points:408,220 Joined:Sep 2009	Message Posted: Sep 27, 2012 2:22:58 PM Ignore Grandpa297 Report Abuse Raise your hand if you are surprised. Thought so. Not a one.
clpassenubye Champion Author Los Angeles Posts:3,359 Points:751,730 Joined:Mar 2011	Message Posted: Sep 27, 2012 1:37:17 PM Ignore clpassenubye Report Abuse disappointing
sparky808 Champion Author Honolulu Posts:2,993 Points:597,535 Joined:Sep 2011	Message Posted: Sep 27, 2012 1:24:24 PM Ignore sparky808 Report Abuse Thank you for posting.
rjojo40 Champion Author Las Vegas Posts:7,367 Points:1,073,895 Joined:Feb 2004	Message Posted: Sep 27, 2012 1:14:57 PM Ignore rjojo40 Report Abuse of course.
CapriceWagon All-Star Author Washington Posts:934 Points:478,095 Joined:Feb 2008	Message Posted: Sep 27, 2012 1:09:58 PM Ignore CapriceWagon Report Abuse Fantastic...
Marson Champion Author Scranton Posts:8,937 Points:2,076,960 Joined:Oct 2006	Message Posted: Sep 27, 2012 12:25:15 PM Ignore Marson Report Abuse What the ___K?
nskmda Champion Author Grand Rapids Posts:1,280 Points:787,080 Joined:May 2007	Message Posted: Sep 27, 2012 12:18:47 PM Ignore nskmda Report Abuse the usual story
JXQW Champion Author Kansas City Posts:2,787 Points:683,425 Joined:Jul 2008	Message Posted: Sep 27, 2012 11:52:32 AM Ignore JXQW Report Abuse it is more than just speculators, it also involves ridiculously huge refinery profit
Tomeboy Champion Author Twin Cities Posts:3,764 Points:558,690 Joined:Apr 2009	Message Posted: Sep 27, 2012 11:25:02 AM Ignore Tomeboy Report Abuse Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services.
stoopsy Champion Author Columbus Posts:1,847 Points:357,740 Joined:Jun 2004	Message Posted: Sep 27, 2012 11:15:37 AM Ignore stoopsy Report Abuse no maybe not about it
jiml1965 Champion Author Harrisburg Posts:3,030 Points:689,375 Joined:Jan 2011	Message Posted: Sep 27, 2012 11:14:22 AM Ignore jiml1965 Report Abuse excuses for greed
puinsai808 Champion Author Honolulu Posts:3,539 Points:726,330 Joined:May 2011	Message Posted: Sep 27, 2012 11:06:48 AM Ignore puinsai808 Report Abuse ok
BigRedVTX All-Star Author Georgia Posts:866 Points:502,080 Joined:Jun 2011	Message Posted: Sep 27, 2012 11:01:28 AM Ignore BigRedVTX Report Abuse Seems the law of supply and demand has been broken a number of times of late.
BudsterMO Champion Author Kansas City Posts:3,705 Points:702,205 Joined:Aug 2009	Message Posted: Sep 27, 2012 10:51:42 AM Ignore BudsterMO Report Abuse You can thank Wall Street speculators for this unnatural cost to price disparity.
fuel2use Champion Author Seattle Posts:3,483 Points:732,350 Joined:Dec 2010	Message Posted: Sep 27, 2012 10:49:53 AM Ignore fuel2use Report Abuse Does not make sense to most.
us4usa Champion Author Missouri Posts:5,984 Points:1,111,375 Joined:May 2008	Message Posted: Sep 27, 2012 10:48:07 AM Ignore us4usa Report Abuse Face it folks Big Oil has us right where they want us... They make big profits controlling the supply...
Tomeboy Champion Author Twin Cities Posts:3,764 Points:558,690 Joined:Apr 2009	Message Posted: Sep 27, 2012 10:45:16 AM Ignore Tomeboy Report Abuse Consumer three times a loser. Supply and Demand: When supply of gasoline drops and demand goes up, prices rise. When supply of gasoline drops and demand remains the same, prices rise. When supply of gasoline drops and demand drops, prices rise. Big Oil... We get you coming and going... Have a nice day!
schvanda63 Champion Author Lansing Posts:1,310 Points:263,770 Joined:Mar 2008	Message Posted: Sep 27, 2012 10:44:56 AM Ignore schvanda63 Report Abuse "...and an explosion at a refinery in Canada that is a big supplier of gasoline to the U.S. East Coast." Planned or "accidental". Anything to keep the prices higher.
Red7002011 Champion Author Mississippi Posts:3,327 Points:667,745 Joined:Jul 2011	Message Posted: Sep 27, 2012 10:43:38 AM Ignore Red7002011 Report Abuse Really!!!
orcar Champion Author Boise Posts:2,053 Points:776,790 Joined:Jun 2010	Message Posted: Sep 27, 2012 10:42:45 AM Ignore orcar Report Abuse Maybe Obama and Congress can fix this....and I believe in Santa too.
Ken2OD Champion Author Grand Rapids Posts:9,062 Points:1,969,990 Joined:Dec 2005	Message Posted: Sep 27, 2012 10:41:35 AM Ignore Ken2OD Report Abuse What's new?
generok Champion Author Atlanta Posts:1,123 Points:408,520 Joined:Dec 2009	Message Posted: Sep 27, 2012 10:40:16 AM Ignore generok Report Abuse Interesting.
FortVancouver01 Champion Author Washington Posts:1,161 Points:286,915 Joined:Jul 2012	Message Posted: Sep 27, 2012 10:38:24 AM Ignore FortVancouver01 Report Abuse It is called price manipulation, which is usually illegal and called price fixing in most industries but Congress seems to have exempted big oil.
Suzzoom Champion Author Nevada Posts:2,358 Points:504,940 Joined:Jan 2011	Message Posted: Sep 27, 2012 10:37:52 AM Ignore Suzzoom Report Abuse Big Oil will do whatever necessary to ensure a big profit.
LQQKGAS Champion Author Phoenix Posts:2,664 Points:1,195,040 Joined:Oct 2009	Message Posted: Sep 27, 2012 10:36:25 AM Ignore LQQKGAS Report Abuse White collar crime with no white collar police! Maybe white turbine and robe crime? [Edited by: LQQKGAS at 9/27/2012 10:38:39 AM EST]
LtRTH Champion Author St. Louis Posts:1,767 Points:583,095 Joined:May 2011	Message Posted: Sep 27, 2012 10:36:18 AM Ignore LtRTH Report Abuse Another refinery problem and it's not even in the U.S. this time. We need more refineries so when accidents happen the supply is not so adversely affected. And let's quit exporting gasoline. Keep it here. I just don't understand why we export when supplies are low and then we also import gasoline at the same time. Less exported gasoline means less imported gasoline.
dchiou Champion Author San Jose Posts:2,816 Points:792,015 Joined:Feb 2007	Message Posted: Sep 27, 2012 10:35:37 AM Ignore dchiou Report Abuse it makes no sense...
packards42 Champion Author Washington Posts:6,442 Points:1,127,615 Joined:Feb 2005	Message Posted: Sep 27, 2012 10:35:35 AM Ignore packards42 Report Abuse WHy do the doomsayers alway take a negative take on crude price dropping.
PrepHermit Champion Author New Jersey Posts:8,096 Points:1,643,205 Joined:Aug 2008	Message Posted: Sep 27, 2012 10:35:18 AM Ignore PrepHermit Report Abuse You knew it would be too good to be true.
LQQKGAS Champion Author Phoenix Posts:2,664 Points:1,195,040 Joined:Oct 2009	Message Posted: Sep 27, 2012 10:35:12 AM Ignore LQQKGAS Report Abuse MONOPOLY: ILLEGAL
jetmech568 Champion Author Idaho Posts:1,268 Points:623,990 Joined:Apr 2011	Message Posted: Sep 27, 2012 10:34:42 AM Ignore jetmech568 Report Abuse lets see... war looming with iran, a president that WANTS higher prices so he can push the "green" energy plan and he doesn't do one thing to ease the problems on oil production.
RAKARWOWSKI Champion Author Chicago Posts:3,995 Points:820,050 Joined:Jan 2011	Message Posted: Sep 27, 2012 10:34:20 AM Ignore RAKARWOWSKI Report Abuse My but hurts just reading this!
Prodaddy Champion Author Houston Posts:8,375 Points:1,894,210 Joined:May 2007	Message Posted: Sep 27, 2012 10:34:08 AM Ignore Prodaddy Report Abuse We are in a no win situation
blazerbob91 Champion Author Milwaukee Posts:6,135 Points:1,881,720 Joined:Aug 2005	Message Posted: Sep 27, 2012 10:33:12 AM Ignore blazerbob91 Report Abuse Futures point to a rise to $4 again
OnEmptyMO Champion Author St. Louis Posts:4,983 Points:1,486,705 Joined:Mar 2008	Message Posted: Sep 27, 2012 10:32:55 AM Ignore OnEmptyMO Report Abuse Does not make sense at all.
PFCASTA Champion Author Worcester Posts:1,095 Points:1,573,130 Joined:Apr 2006	Message Posted: Sep 27, 2012 10:32:33 AM Ignore PFCASTA Report Abuse QUICK TO RISE SLOW TO FALL
tomok Champion Author Portland Posts:32,983 Points:2,344,535 Joined:Aug 2006	Message Posted: Sep 27, 2012 10:32:32 AM Ignore tomok Report Abuse Oil price falls while gas prices are rising? This is nothing new! Isn't this what oil prices and fuel prices have been doing for a long time now! Oil prices are down and fuel prices at the pump are up! Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! 12/22/2012!
WVUtailgater Champion Author Cleveland Posts:8,431 Points:1,697,710 Joined:Aug 2008	Message Posted: Sep 27, 2012 10:32:14 AM Ignore WVUtailgater Report Abuse just what we need
Wolfwings Champion Author Delaware Posts:8,735 Points:1,775,490 Joined:May 2004	Message Posted: Sep 27, 2012 10:32:13 AM Ignore Wolfwings Report Abuse Sad
bbthegun Champion Author San Diego Posts:5,978 Points:1,680,215 Joined:Sep 2006	Message Posted: Sep 27, 2012 10:32:04 AM Ignore bbthegun Report Abuse What a bunch of crap! Build more refineries already!!
Panama Red Champion Author San Diego Posts:11,067 Points:2,497,315 Joined:Jun 2004	Message Posted: Sep 27, 2012 10:31:40 AM Ignore Panama Red Report Abuse Why am I not surprised?
bridgerunner Champion Author Virginia Posts:4,782 Points:1,005,860 Joined:Jul 2009	Message Posted: Sep 27, 2012 10:31:33 AM Ignore bridgerunner Report Abuse I have not seen any rational explanations for this.
Minutefan Champion Author Springfield Posts:3,305 Points:1,245,330 Joined:Aug 2004	Message Posted: Sep 27, 2012 10:30:51 AM Ignore Minutefan Report Abuse two words...rip off New refineries are needed closer to the sources of new domestic oil production. However oil companies should use their windfall profits to build them and NOT use constrction as an excuse to keep gouging us at the pump.