Vancouver has the most expensive gas in na. – page 3 – keystone rv forums gas konigsforst

Our fuel here on the Right Coast, Upstate NY tax hell is edging up to between $2.67 – $2.83 a gallon in the Capital District for unleaded with diesel $2.99 – $3.19. Amazing that since the US has in the past couple years become a net exporter of crude that the price of refined products are going up. The blame has been put on the OPEC Cartel, but that’s nonsense here in North America

So here’s a little different angle. 72% of the cost of a gallon of fuel is related to the cost of crude oil. The remaining 28% is refining, transportation, retail profits and TAXES. Since the 28% costs are fairly static then the cost of crude is the biggest contributor to the fluctuation in prices at the pump. But who is the biggest player in determining the cost of crude. It’s not who you might think. Look at the top 10 producing countries:

The answer is two major commodity futures exchanges: NYMEX and the Intercontinental Exchange (ICE). These exchanges feature futures who’s pricing is based on west Texas Intermediate (WTI) light sweet crude and Brent Crude, respectively. Here, traders all across the globe can participate in gaining direct exposure to oil instead of going through oil-based companies in the stock market. Speculators "playing" this market will buy oil today at a given price then sell it tomorrow at a higher price. And , since they are buying up a lot of oil they are creating a false demand. Here’s an interesting bit of information from Reuters: LONDON, April 14 (Reuters) – A record 2.5 billion barrels of crude oil traded on April 13 on the world’s two main futures exchanges, the equivalent of almost 30 times the amount of oil used around the world each day, data showed on Wednesday.

Our fuel here on the Right Coast, Upstate NY tax hell is edging up to between $2.67 – $2.83 a gallon in the Capital District for unleaded with diesel $2.99 – $3.19. Amazing that since the US has in the past couple years become a net exporter of crude that the price of refined products are going up. The blame has been put on the OPEC Cartel, but that’s nonsense here in North America

So here’s a little different angle. 72% of the cost of a gallon of fuel is related to the cost of crude oil. The remaining 28% is refining, transportation, retail profits and TAXES. Since the 28% costs are fairly static then the cost of crude is the biggest contributor to the fluctuation in prices at the pump. But who is the biggest player in determining the cost of crude. It’s not who you might think. Look at the top 10 producing countries:

The answer is two major commodity futures exchanges: NYMEX and the Intercontinental Exchange (ICE). These exchanges feature futures who’s pricing is based on west Texas Intermediate (WTI) light sweet crude and Brent Crude, respectively. Here, traders all across the globe can participate in gaining direct exposure to oil instead of going through oil-based companies in the stock market. Speculators "playing" this market will buy oil today at a given price then sell it tomorrow at a higher price. And , since they are buying up a lot of oil they are creating a false demand. Here’s an interesting bit of information from Reuters: LONDON, April 14 (Reuters) – A record 2.5 billion barrels of crude oil traded on April 13 on the world’s two main futures exchanges, the equivalent of almost 30 times the amount of oil used around the world each day, data showed on Wednesday.