reply to post by Mabus
Oil is a commodity. All commoditities rise and fall in price. There is a speculative futures market. People buy contracts on these commodities and
can make money just as easily on falling prices as they do with rising prices.
The prices at the store do change everyday. They change to cover the current cost was whatever the product is. Most retail outlets have a person
that all they do is keep the price changes current.
At the local farm supply store I see this all the time. When the price of steel goes up, the price of field fence and wire go up. When the price of
corn goes up, the price of feed goes up. When the price of a barrell of oil goes up, guess what?
They come back down more slowly. Usually as an effect of competition. They can't continue to raise prices and remain competitive.
Educate yourself.
The commodities market started as a way for farmers to hedge against a bad crop. It's fascinating really and if you spent some time looking for
these answers yourself instead of coming here for spoon fed info- nobody could guess anything else about you...and you'd actually have a clue while
you listened to some idiot tell you what's
really happening.
