How come gas prices at the pump seem to react immediately to predicted bad weather in the Gulf of Mexico, uncertainty in the Middle East or Venezuela, even news reports of increases in barrel prices?
What’s wrong with that? When you hear “price per barrel,” that’s in the oil futures market. Those prices shouldn’t make it to the consumer for a good part of a year, the time it takes to get bought at that price at the wellhead or wherever, across the oceans, through refining, and transporting to your gas station. Plus, those futures are 3, 6, 9 months out. ISTM somebody’s exploiting modern information overload for unfair profit. I don’t wanna tax their windfalls; I wanna END them!!!!!
As for the other causes, they should have a delayed effect too. They don’t. Reminds me of the joke about PBS, “Petroleum’s British Subsidiary”!! Except now it’s ALL the media!