Article

2026-06-13 Economy

Brent crude oil prices fell below $87 per barrel for the first time since April

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by badanov 2026-06-13 00:00|| E-Mail|| Front Page|| [1810 views ] Top

1
Question is there really a relationship to the Oil price to the pump Gas price?

In short are we seeing Gas Price profiteering by the oil companies.

Posted by NN2N1 2026-06-13 06:39|| 2026-06-13 06:39|| Front Page Top

2 Inventories are not sold at purchase price plus mark-up. Inventories are sold at current market price plus mark-up. Nor are pump prices immediately adjusted when market prices go down.

Somewhat like the pump jack in the graphic; making profits both going up and going down.

Large customers such as airlines, buy on contract thus avoiding pricing fluctuations.

Posted by Besoeker 2026-06-13 07:29|| 2026-06-13 07:29|| Front Page Top

3 American Spectator - How Not to Save Money on Gas
Rising fuel prices don’t magically make an expensive EV a bargain.

Posted by Besoeker 2026-06-13 07:42|| 2026-06-13 07:42|| Front Page Top

4 Fuel could be $7/gallon and I'd still never even think about buying an EV.

Having said that, the Chinese evidently make some cheap EVs. No wonder they can't sell them in the USA. Funny how that happens.

Posted by DooDahMan 2026-06-13 08:37|| 2026-06-13 08:37|| Front Page Top

5 Where was $150/bbl the "pundits" were all calling for? That was a pretty good sign that oil was coming back down and a good time to short Big Oil and oil ETFs such as USO.

Posted by DooDahMan 2026-06-13 08:39|| 2026-06-13 08:39|| Front Page Top

6
EV's are bad enough, but Look at
Hybrid (PHEV/HEV) 3,475 per 100k or 3.48% going up in flames.

Posted by NN2N1 2026-06-13 08:51|| 2026-06-13 08:51|| Front Page Top

7 So the price of gas went up as soon as the oil prices did. Bet they dont go down as fast...

Posted by 49 Pan 2026-06-13 08:54|| 2026-06-13 08:54|| Front Page Top

8 I remember negotiations with a certain package delivery company back around 2003 when for some reason there was a quick spike in gasoline prices, so said company put a gas sur-charge on us. Well, when gasoline fell back to what was considered 'normal' back then, the sur-charge never went away.

One of my phone carriers still has the obamaphone charge.

Posted by swksvolFF 2026-06-13 09:29|| 2026-06-13 09:29|| Front Page Top

9 #4 Google "EV, combustion".

Posted by Grom the Reflective 2026-06-13 09:52|| 2026-06-13 09:52|| Front Page Top

10 Google "EV, combustion"

8 Differences Between EV and Internal Combustion Engine Vehicle Fires

Posted by Skidmark 2026-06-13 10:12|| 2026-06-13 10:12|| Front Page Top

11 Interesting. The odds of an EV fire and an ICE fire combine for a hybrid. Doubles your chances of a fire....

Posted by Bobby 2026-06-13 10:57|| 2026-06-13 10:57|| Front Page Top

12 So many gas stations have gone out of business. I drive by a couple every day. Even a small station has a couple 25000 gal underground tanks. Filling those after a 50 cent price hike means their inventory value goes up even though the station owner doesn’t make any money.

Generally the gas price = crude oil/42 + transportation + refinery cost w/ federal regulations + station markup+ taxes state and federal.

Taxes can be 60 cents + per gallon!

Posted by Difar Dave 2026-06-13 11:21|| 2026-06-13 11:21|| Front Page Top

13 TOP 10 FUEL TAXES STATES in 2025-26
State
Gas Tax
Diesel Tax
Politically Controlled

Note: 9 of 10 of the highest fueling taxing states are Democrat.

California
70.92
87.32
DEMOCRAT RUN

Illinois
66.40
73.90
DEMOCRAT RUN

Washington
59.04
62.04
DEMOCRAT RUN

Pennsylvania
58.70
74.10
DEMOCRAT RUN

Indiana
54.50
62.00
Republican Run

Michigan
48.20
49.90
DEMOCRAT RUN

Maryland
46.19
46.94
DEMOCRAT RUN

New Jersey
44.95
51.95
DEMOCRAT RUN

Virginia
41.60
42.70
DEMOCRAT RUN

Rhode Island
41.12
41.12
DEMOCRAT RUN

Posted by NN2N1 2026-06-13 12:11|| 2026-06-13 12:11|| Front Page Top

14 Gas prices here in CT are dropping with a couple of stations just under $4.00 down from the $4.61 it was during the first week of May. It was under $3.00 back in December.
https://www.gasbuddy.com

https://www.gasbuddy.com

Posted by Chantry 2026-06-13 12:43|| 2026-06-13 12:43|| Front Page Top

15 Prices at the pump go up like a rocket and fall like a feather.

Posted by Abu Uluque 2026-06-13 12:46|| 2026-06-13 12:46|| Front Page Top

16 The prices went up $1.30 the third day of the closure and we dont use any oil from that area. Now they say it will take a month for the prices to drop, we still dont use their oil. Its profiteering, plain and simple.

Posted by 49 Pan 2026-06-13 14:38|| 2026-06-13 14:38|| Front Page Top

17 I'm certainly no economist, but it sure looks that way to me Pan.

Why can't we just concentrate our discussions on more relevant topics such as alien life forms or sightings ?

Posted by Besoeker 2026-06-13 15:24|| 2026-06-13 15:24|| Front Page Top

18 By invitation:

UFO leakers expose disturbing government tactics used to keep America's alien cover-up a secret

Posted by Skidmark 2026-06-13 15:38|| 2026-06-13 15:38|| Front Page Top

19 I'm certainly no economist, either. I believe in time of shortage, (or a day ending in Y) the price goes up because somebody else will pay more. That's oil.

Gas prices are down 50-60 cents in the past few weeks, in North Texas suburbia, but I frequently feel like the rocket/feather price model.

Don't forget the greedy oil companies pay ridiculous Federal taxes on their obscene profits, after the states have taken their cut.

Posted by Bobby 2026-06-13 16:02|| 2026-06-13 16:02|| Front Page Top

20 I guess I missed Elisabeth Warren demanding a windfall profits tax.

#9 - No sense as I will never buy an EV or even a hybrid.

#12 - I don't know if you are in California, but I heard many many small filling stations closed because of the state's mandate for filling stations to upgrade their fuel tanks in the ground to "prevent" fuel leaking into the ground. I read that, generally, upgrading to the new tanks would have cost each station approximately $2 million, money that small station owners don't have, so they just closed their businesses.

Posted by DooDahMan 2026-06-13 17:32|| 2026-06-13 17:32|| Front Page Top

21 Alien craft contrails could be adding to "Global Worming." I insist someone appoint a committee to investigate.

Do I have a second ?

Posted by Besoeker 2026-06-13 17:52|| 2026-06-13 17:52|| Front Page Top

22 #20 - Double-wall tanks have LONG been a requirement to prevent groundwater contamination (back in the 90's). Not so much a punishment as common-sense requirement

Posted by Frank G 2026-06-13 18:08|| 2026-06-13 18:08|| Front Page Top

23 Radioactive waste emptied from aging, leak-prone tank in Eastern WA

Posted by Skidmark 2026-06-13 18:24|| 2026-06-13 18:24|| Front Page Top

24 The national average price for a gallon of regular gasoline declined for three consecutive weeks, dropping from $4.56 per gallon on May 21 to $4.12 per gallon on Thursday.“Gas prices typically peak around this time of year, but uncertainty surrounding the Strait of Hormuz makes this year more unpredictable. Pump prices remain at four-year highs, but the national average is currently far from the record set on June 11, 2022, of $5 per gallon.” In five states, prices exceeded $5 per gallon—California, Hawaii, Washington, Alaska, and Oregon.

Epoch Times, June 12

Posted by Bobby 2026-06-13 19:14|| 2026-06-13 19:14|| Front Page Top

23:47 Skidmark
23:43 Skidmark
21:27 Procopius2k
20:26 Frank G
19:14 Bobby
18:26 Chantry
18:24 Skidmark
18:17 Chantry
18:16 Besoeker
18:09 Frank G
18:08 Frank G
17:59 Skidmark
17:57 Besoeker
17:52 Besoeker
17:47 Besoeker
17:44 DarthVader
17:40 DooDahMan
17:37 DooDahMan
17:32 DooDahMan
17:10 trailing wife
16:31 ed in texas
16:29 Grom the Reflective
16:13 Mercutio
16:12 NoMoreBS
Merry-Go-Blog