nurkvinny Posted May 24, 2004 Report Share Posted May 24, 2004 Up to a 28% increase in oil production in June: http://money.cnn.com/2004/05/23/news/international/spencer.reut/index.htm?cnn=yes Quote Link to comment Share on other sites More sharing options...
Buckeye1647545503 Posted May 24, 2004 Report Share Posted May 24, 2004 That just means that they will make more money on gas. I doubt that we see a price drop Quote Link to comment Share on other sites More sharing options...
Skinner Posted May 24, 2004 Report Share Posted May 24, 2004 we will see a drop in prices in the fall more than likely. Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted May 24, 2004 Author Report Share Posted May 24, 2004 Originally posted by buckeye: That just means that they will make more money on gas. I doubt that we see a price dropI'm gonna have to play the "my family owns a gas station, so I know these things card" smile.gif The price will drop. Not in June, but by the end of summer (more than the typical end-of-summer drop). Quote Link to comment Share on other sites More sharing options...
iwishiwascool Posted May 24, 2004 Report Share Posted May 24, 2004 Econ 101: Increasing supply decreases price. Late summer aka just in time for elections. Looks like the saudis came through on their promise to G.dubua. Quote Link to comment Share on other sites More sharing options...
Drunkendubber Posted May 24, 2004 Report Share Posted May 24, 2004 Originally posted by buckeye: That just means that they will make more money on gas. I doubt that we see a price drop this is the exact opposite of what happens. The less oil there is the more money you make as a refiner. Quote Link to comment Share on other sites More sharing options...
Guest Tony_K Posted May 24, 2004 Report Share Posted May 24, 2004 +1 for basic business sense! graemlins/thumb.gif Quote Link to comment Share on other sites More sharing options...
Brandon Posted May 24, 2004 Report Share Posted May 24, 2004 i also think gas prices will not dip down very much, you can increase the supply all you want but there is limited supply, and the demand grows daily. I think the 1.50 days of gas are over never to be seen again, and 1.75 we might see once again, but unlikly. Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted May 24, 2004 Report Share Posted May 24, 2004 Originally posted by B Dubs: i also think gas prices will not dip down very much, you can increase the supply all you want but there is limited supply, and the demand grows daily. I think the 1.50 days of gas are over never to be seen again, and 1.75 we might see once again, but unlikly. Brandon, it's simple supply and demand...ill draw you a graph the next time you are over. -Marc Quote Link to comment Share on other sites More sharing options...
iwishiwascool Posted May 24, 2004 Report Share Posted May 24, 2004 one step ahead of ya. Click the graphing apelet on problem one. Interactive and everything! http://www.mhhe.com/economics/frankb/student/olc/chap04s_els_graphex.mhtml Quote Link to comment Share on other sites More sharing options...
Dave1647545494 Posted May 25, 2004 Report Share Posted May 25, 2004 that sad thing about oil refining in general is that it costs less to refine now than it did when gasoline cost a quarter... go figure alos don't forget that almost 75 cents on the gallon are taxes sales tax excise tax road tax etc. Quote Link to comment Share on other sites More sharing options...
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