Feds to Begin Buying Up Short-Term Business Loans to Alleviate Credit Crunch? | Main | Let's Get This Fucking Straight: Bill Ayers is Not a "Former Radical"
October 07, 2008

Just a Little Economic Aside.

Nothing to do with the bailout, tonight's debate, or Obama's ties to domestic terrorists, but I did finally buy gas for less than $3 a gallon today. I paid $2.94 for 10% ethanol mix at Wight & Short this morning. Straight gas is running an extra dime a gallon, so it'll probably be under $3 by Thursday at the latest if it stays on this pace.

Yeah, my life is fascinating. So what?

Aside to the aside [Dave in Texas]: A week or so ago I mentioned gulf refineries hitting capacity again after Ike, and a commenter asked a question (or made a complaint, I forget which) why gasoline prices don't rise and fall with the price of crude. The answer is they do (and are now). Crude oil over the past 5 years or so has averaged anywhere from 52% to 58% of the cost of a gallon of gasoline. Almost all of the other costs are fixed (extraction, transport, refining, marketing and distribution, rack blends and delivery, and of course, taxes). The fluctuation of oil price has to make its way through the system. At 4 bucks a gallon, crude represented about $2.10 of that. It's since dropped anywhere from .75 cents to a dollar a gallon, depending on where you are. Roughly 30% 33% (loose shit on me).

About the same drop as crude from $150bbl to under $100.

SO what? Do I like the lower price? Well hell yes, I do, feeding the DiT Silverado is a bitch at four bucks a gallon. But the drop in crude is almost directly tied to a market expectation that demand will be lower, because of a shrinking economy. Do I like that part? No.

So it's a mixed blessing for me. I'm glad to fill up for less than $70. The rest of it, maybe not so much. Thoughts?

Also, thank God for bacon.

digg this
posted by Russ from Winterset at 01:58 PM

| Access Comments

Recent Comments
JT: "Urk. I don't much like myself. Posted by: Insomni ..."

Jim[/i][/b][/s][/u]: "[I]...Urk. I don't much like myself. Posted by: ..."

Cosda: ""329 Going out tomorrow for PA inline muzzle loade ..."

Jim[/i][/b][/s][/u]: "Thank YOU, Westministerdogshow! Happy you were ab ..."

Emmie: "[i]Urk. I don't much like myself. Posted by: Inso ..."

Blue Bird of F'ing Joy: "[i]If you're looking at 9mm, I'd also suggest Taur ..."

Weasel: " Weasel, I got some serious side-eye from the guy ..."

Blue Bird of F'ing Joy: "[i]There's a tornado warning currently in the Faye ..."

Anon a mouse: "If you're looking at 9mm, I'd also suggest Taurus. ..."

AltonJackson: " Weasel, I got some serious side-eye from the guy ..."

Anon a mouse: "How much does it add to size?" Not much at all ..."

Insomniac: "Be yourself. Urk. I don't much like myself. ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64