I will start off that yes I am ignorant as to how the price at the pump is durived… but everything you hear is $XXX a barrel… Pump prices are $XXX So lets stick to that.
$70 a barrel = $1.72-1.99
$40 a barrel = $1.64
$37 a barrel = $1.61
that doesnt add up at all.
$37 a barrel = $1.61, yet a jump of $33 up to $70 a barrel only made the pump price rise $0.38 a gal at the pump? Or $0.0115 a gal at the pump for every $1 rise per barrel.
Oil today is $109 a barrel. So that is $39 more a barrel than the $70 = $1.99 example in 2008. So by that statistic them pump price should be only $0.449 more a gal than it was back in 2008, or $2.43 a gal.
Sooooo where is the other $1.52 per gal increase coming from??? because by my calculations to get to the price per gal we are VS the price per gal / per barrel it was 4 years ago… oil should be $202 a barrel right now!