Fuel/Gas Prices

[jm21ddd15]

Last summer a barrel of crude was slightly over $100. Now it is around $27. A barrel hold 55 gallons, and there are 4 quarts in each gallon. So there are 220 quarts in each barrel. Since the price of a barrel has dropped by approx. $75, or 75%, why do we still pay between $4 -$6 for a quart of oil at our Dealers and auto parts stores. Gas should not be the only petroleum product that the price should drop significantly. Some how, the oil companies are still making very good profits, despite what we see on Wall Street.

[Old Ryder]

Last summer a barrel of crude was slightly over $100. Now it is around $27. A barrel hold 55 gallons, and there are 4 quarts in each gallon. So there are 220 quarts in each barrel. Since the price of a barrel has dropped by approx. $75, or 75%, why do we still pay between $4 -$6 for a quart of oil at our Dealers and auto parts stores. Gas should not be the only petroleum product that the price should drop significantly. Some how, the oil companies are still making very good profits, despite what we see on Wall Street.

Forget that!!!! What about the cost of roof shingles. When those prices skyrocketed it was blamed on the price of crude. They have not come down at all!

[MOODY]

Last summer a barrel of crude was slightly over $100. Now it is around $27. A barrel hold 55 gallons, and there are 4 quarts in each gallon. So there are 220 quarts in each barrel. Since the price of a barrel has dropped by approx. $75, or 75%, why do we still pay between $4 -$6 for a quart of oil at our Dealers and auto parts stores. Gas should not be the only petroleum product that the price should drop significantly. Some how, the oil companies are still making very good profits, despite what we see on Wall Street.

Oil comes in 42 gallon bbls has to be highly refined depending on gravity, the blacker the lower the grade, WTI (West Texas Intermediate) where i'm from is a middle grade, I'm not a chemist so can't tell you what yield is on oil to gas, but 1 bbl oil will yield from mineral spirits to grease.

[jm21ddd15]

You are correct, my mistake on the comment of 55 gallons in a bbl of crude. I did a Google search on the issue of, how much gasoline from 1 bb of crude. The answer I got was, crude is heated to 370 degrees. it evaporates, and the lighter molecules rise up 1st, then is separated, and cooled back to liquid form. These are usually gasoline products, then a bit heavier for diesel, etc. The article stated a 42 gal bbl of crude will produce approximately 19 gallons of gas, 10 gallons of diesel, 4 gallons of jet fuel, and 9 gallons of "other" petrol products. That is a lot of products from a $27 barrel. Anyway, I'm no chemist, so I can't verify what the article stated. I was just interested. I am enjoying filling my fuel tank nowdays. Was $1.67 in town today.