As I get a little older I observe a few things. The overall economy is down (would you say poor?) & jobs are sitting at 9.1%.

Oil prices started to drop 10 to 12 days ago when the economic news on Europe was bad.

But all of a sudden we have a positive jobs report and good economic news and the price of oil goes up. We get a good job's report and the cost of oil goes up. Why ?

The more people who go back to work, will need more gas to get to their job. Oil companys sell more oil when more people are working, correct? So why raise the price?

I'm I missing something ?


It's like big brother says " oh it's great you got hired, but now it is going to cost you more $ to work ".

This whole price of oil zhit is wacked.

Dan,

I agree, and why is the less refined heating oil, nearly the same price as the much more refined gasoline?
The oil indusrty pricing policy is comfusing.

... Not looking forward to a cold winter with oil heat.

Its mostly economics...

When the market is under duress, OPEC lowers the price per barrel to try and sustain a certain level of consumption. When the market is healthy and vibrant, the price goes up because there's money flowing in the general market and people spend it.

Plus, gasoline/fuel prices are considered by economists to be "elastic." Meaning, prices can go way up or down before it effects consumption. People need gas in their cars to go to work, live their lives, etc. So while we bitch about, we still swipe our credit cards and fill her up.

An example of inelastic product would be food/dining out. If the economy's down, more people eat at cheaper places than more expensive ones OR, they eat out less.

There's tons of options with food/dining out. Not so many when it comes to purchasing fuel for our cars.

Thanks Bill.

Is the economy better this year then last ? Depending on where you lived gas was $2.80 to $2.90 one year ago.

I am no economist, but when the economy has positive news , the price of gas should go down.

Getting a job is a penalty because your going to have higher gas prices as your reward. Does that make any sense ?

Consumers paid more for food and gas.

http://finance.yahoo.com/news/Consumers-paid-more-for-food-apf-1993942050.html?x=0

From the article

"Those increases are key reasons overall inflation has jumped 3.9 percent in the 12 months ending in September, the largest year-over-year increase in three years. Core prices have increased 2 percent for the same period.

At the same time, inflation-adjusted average hourly earnings fell 0.1 percent in September, the Labor Department said Wednesday. In the past year, average inflation-adjusted hourly earnings have dropped 1.9 percent."

http://finance.yahoo.com/news/Oil-prices-fall-after-apf-3317703820.html?x=0


Sorry to beat this issue, but it just shows how much BS goes into the price of oil.

Good stuff, not beating it at all...

Here ya go. Hey America, get a job , but remember to negotiate a higher pay scale because you are going to pay more for gas !

http://finance.yahoo.com/news/Oil-price-rises-on-US-jobs-apf-2955644037.html?x=0

...and heating oil here in Pennsylvania is currently $4.29 a gal.

Wow ... Unemployment rate is down and gas prices are too ! This thread must be working ! YEAHHHHHH !

And Heating Oil is a bargain @ $3.80 a gal. ...well not really a bargain...

Larry