Price of oil down

[Sunbeam lodge]

What is the price of a gallon of oil now. Just paid $2.90 from Stafford. Also with the price of oil tanking , how come gasoline prices have not moved substantially.

[Slickcraft]

You can get cash prices here, select your area in the pull down.
http://www.newenglandoil.com/newhampshire/zone3.asp?x=0
$2.90 is on the high end.

[BroadHopper]

OPEC is meeting very soon and the analysts believe oil prices will got up.

[Rusty]

What is the price of a gallon of oil now. Just paid $2.90 from Stafford. Also with the price of oil tanking , how come gasoline prices have not moved substantially.

Google "Rockets and Feathers".

[tummyman]

If you belonged to Our Town Energy Coop, you could have paid $2.23 today if paid within 10 days. That is a big difference. Cost to belong is $25 per year....well worth it.

[Greene's Basin Girl]

Yes, but did you have to pay a higher price when rack price was less expensive. I belong to this organization, but I never use it because if I did I would have been a higher price much of the time.

[wynndog]

Well $ of gas was going up. "because increased cost for summer gas"
I thought putting in ethanol for warmer weather,was supposed to be cheaper
because we used CORN, toooo, make gas cheaper?

[MAXUM]

It's the summer gas and this is the time of the year when refineries are shutting down for maintenance too.

Just because oil is cheap right now doesn't always mean you will see that at the pump. Gas is sold at a contracted rate through the supply chain so the fluctuations at the pump are reflected based on whatever the contract rate is not necessarily in line with the commodity price of a barrel of oil. That plays some part in the price but not the entire picture.

[codeman671]

Yes, but did you have to pay a higher price when rack price was less expensive. I belong to this organization, but I never use it because if I did I would have been a higher price much of the time.

We are members as well. Their Rack Plus program is an adjustable price program, it is not a pre-buy or season long lock. They signed us up with Eastern as the provider. Each day the rack plus price is listed on the otchoice.com website. If you pay within 10 days this is the price that you pay. It goes up and down like everyone else, but the base price has always been cheaper than everyone else on newenglandoil.

[Sunbeam lodge]

What is the price of a gallon of oil now. Just paid $2.90 from Stafford. Also with the price of oil tanking , how come gasoline prices have not moved substantially.

http://gascalc.appspot.com/

[Sunbeam lodge]

http://gascalc.appspot.com/

you can slide the green box to change the cost of gas to correlate

[jhnmdahl]

A couple factors at work here -

First, refining is the constraint on supply right now, and not availability of oil being pumped from the ground. Refineries are also undergoing spring maintenance right now as they switch from winter blend to summer blend, further reducing refining capacity.

Second, gas is somewhat more expensive in the summer in part because the formulation is more expensive. Butane can be put in winter gas, but will evaporate out of summer gas too easily, requiring a greater amount of heavier hydrocarbons to make a gallon of summer gas.