"Experts" say it's no longer a simple matter of supply-and-demand, but the value of the dollar. Apparently the oil companies use LIFO accounting [last in, first out], so that if their cost goes up today, they charge us based on what they paid today for oil we won't even see at the pump for months [transit time, refining time, more transit time].
LIFO accounting is great [for the oil companies] when costs are rising, but when costs fall, it's odd how the oil companies' pricing more closely represents the time it takes to get the cheaper product to market. Guess LIFO doesn't work then.
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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