That they're already getting scammed at the pumps. Much earlier than ever. Reason? Traders and hedge funds. Over 400M barrels are being speculated on in futures markets which is driving up the price of the underlying commodity...gas. Not until CNG becomes a viable alternative will these #$%$ no longer get away with this BS.
I have to laugh at these boards and all of the "mouths" who have NO idea what they're talking about. Regarding what actions move commodity prices the future markets are indeed a key element.
Oil drops 2%; large trade spurs fund speculation
SAN FRANCISCO (MarketWatch) -- Oil futures dropped more than 2% as a large block of trades in the market fueled speculation that a commodity fund was forced to liquidate ahead of the expiration of the March futures contracts.
April crude oil , which becomes the front-month contract, traded at $94.89 a barrel, down $2.21, or 2.3%.
The market was hit by a large block of trades, spurring speculation that a commodity fund "got on the wrong side of the market" -- that a fund was in trouble and was "forced to liquidate," said Stephen Schork with the Schork Group.
Nanex, which supplies real-time data services, reported that the April crude-oil futures contract was hit with over 2,500 contracts within two seconds Wednesday morning, sending oil prices sharply lower.
You don't really think you're going to get an educated response on these boards do you sir? These people are morons with gigantic ego's and a lot of their mommy's monies. The oil industry is a complete and utter ruse. As is the future's industry. You're so correct that CNG would serve as a "savior" in reducing gasoline prices but it's not going to happen. The oil industry will see to that. Not until some of the #$%$ in this country get their heads blown off will justice prevail. One could start right here with all of these old, white #$%$ racists. No fool like an old fool.
You are full of it. Oil is purchased on the SPOT market not futures. Supplies are not up. I suggest you blame radical leftists who refuse to let refineries to be built. And blame Obama for essentially shutting down oil drilling on Gov't land.