oil barrel price : gas price

[phil_ivey_fan]

example: when they say the price of a barrel of oil is $55, how does that relate to the avg. price of gas.

neglect location (a gallon of gas in bumble_fk, SC is going to be cheaper than a gallon in downtown atlanta).

just looking for a rough estimate.

thanx

[jakethebake]

it depends.

[ptmusic]

directly.

-ptmusic

[rusty JEDI]

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rJ

[phil_ivey_fan]

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rJ

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thanx

bump

[handsome]

It's actually gotten to the point where alternatives, like natural gases and electricity, are getting relatively cheap when compared to petroleum. Money makes the world go round. Weeeeeeeeeeeee~

[NoTalent]

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rJ

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Why do gas companies need to market? It's not like anyone is going to stop buying gas anytime soon right?

[manpower]

Price per barrel reflects itself directly into consumer prices for gasoline, but it will take a while. Considering that it takes time for gas to work it's way from the source, through the refinery, and overseas to your local gas station and that per barrel prices are always rising and falling, you can expect price per barrel to be a rough guide as to what local prices will do over the next few weeks. Unfortunately gas prices are subject to futures markets (which is beg) so i don't think you'll be able to get a concrete answer.

I did however, do a little googling and found an article from 1990 saying that a $1 increase in per barrel prices should result in a 2.5 cent increase in a gallon of gas.

eh, maybe that helps.