Tom's Blog

Thursday, May 04, 2006

The Price Of Oil

The price of oil is a fluctuating target because it is bid upon by every country in the world. We compete with China, Europe, Russia for each and every barrel of that black gold. This demand drives the price of a barrel of crude oil up as the demand increases. When demand goes down the price of a barrel of crude decreases.

I don’t know how much it costs to refine the crude oil into the various types of fuels and other petroleum based products, but you have to figure that into everything to come up with a break-even price. Then you figure in transportation costs, the amount a retailer needs to cover their costs and make a profit, and all the taxes and you have the price.

We, as individuals, control the price of gas according to how much we consume. We are suppose to be good stewards; the question in are we?

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