Oil And Gas Truths
It looks like this week the lines evened out a bit. Unfortunately, the lines are evening out because the price of a barrel of oil is increasing. Gasoline fell slightly but not as much as it should have. This should be a very interesting week in the area of oil and gas prices as the economy is taking some weird paths. We'll see what the chart tells us next week.
Now, you may be wondering what I mean by "adjusted gas price." Well, in order to show what I was trying to show with this graph I multiplied all of the gasonline price averages by a common multiplier, in this case it was 31. By doing so it made the price of a barrel of oil and the price of a gallon of gasoline almost equal in January of 2008. What stood out the most to me with this graph was the last month and a half or so. If you notice, the price of a gallon of gasoline is, for the most part, directly related to the price of a barrel of oil throughout the duration of the year. This is not the case with the last month and a half. If you notice, the price of a barrel of oil has dropped significantly, whereas the price of a gallon of gas has, in fact, increased. I also want you to notice where the price of a barrel of oil is now and compare the price of a gallon of gas to what it was the last time oil was the same price, there is a large difference. Now if you take away the common multiplier that I applied to the price of gasoline, there is still nearly a dollar difference in the price of gas now and the price of gas in march, when oil was the same price it is now. This is exactly why I made this chart. I needs to be know how much we are being screwed by these companies.
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