(click here if chart graphic is not observable)
- "In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could." - Rudiger Dornbusch
-
-
Recent Posts
Archives
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
Categories
- Apple
- Banking
- Black Swan Watch
- Bonds
- BRICs
- Budget Deficit
- Cartoon of the Day
- Chart of the Day
- Charts
- China
- Clean Tech
- Commodities
- Credit
- Crude Oil
- Currency
- Cyprus
- Demographics
- Dollar
- Earnings
- ECB
- Economics
- Egypt
- Electric Vehicles
- Emerging Markets
- Employment
- Energy
- Equities
- Euro
- Eurozone Sovereign Spreads
- Finance and the Good Society
- Fiscal Cliff Monitor
- Fiscal Policy
- Food Prices
- France
- General Interest
- Geopolitical
- German Bund
- Germany
- Global Stock Performance
- Global Trend Indicators
- Gold
- Hedge Funds
- Housing
- Inflation/Deflation
- Infographics
- Innovation
- Interest Rate Monitor
- Interest Rates
- Interviews
- Italian Yields
- Italy
- Japan
- Lectures
- Macro Notes from Conference Calls
- Manufacturing
- Masters
- Mexico
- Monetary Policy
- Movies
- Muni Bonds
- Muni Market
- News
- Nonlinear Thinking
- Overbought Markets
- Picture of the Day
- PIIGS
- PMIs
- Policy
- Politics
- Quote of the Day
- Quotes
- Rare Earth Elements
- Reads
- Real Estate
- Relative Strength Index
- RSIs
- Sector ETF Peformance
- Sovereign Debt
- Sovereign Risk
- Spain
- Sports
- State and Local Government
- Technical Analysis
- Technology
- The Weekend Read
- Tweet of the Day
- Ugly Chart Contest
- Uncategorized
- US Releases
- Video
- Wages
- Week in Review
- Weekly Eurozone Watch
- Whales
Meta
If as you say crude is 68% of the cost, how much less would it be if they priced off WTIC and not Brent? Look at the refiners. Their profits are soaring on reduced demand because they are pocketing that WTIC Brent spread.
When gas spikes as it is now,, refiners margins are much higher due to the bogus excuse of switching to summer blend and refinery maintenance hence the figure above is not reflective of true costs. When it comes to gasoline, the laws of supply and demand do not apply. There is always a convenient excuse for higher prices.
Thank for the post, Rob. That’s a good point and hope the EIA takes into account.
Note, also, the data are from end of December, so sure refining and distribution is probably up since spiking gas prices. Here is the history:
http://www.eia.gov/petroleum/gasdiesel/gaspump_hist.cfm
Pingback: Chart of the Day: Components of the Gas Price | Fifth Estate
Did you notice the refining percentage in Dec 2012? How often do we hear about the unreliability of the Data out of China? How does the EIA arrive at a .08 number for December? Regardless, you know the quote, ; There are lies, damn lies, and then there are statistics. As far as I am concerned, the EIA , like the Dept of Education , and others could just go away and the U.S. would be none the worse… Someone posted a link to Business Insider on a yahoo board specifically to your chart on oversold and overbought. I also read your comments on percentage of disposable income spent on gasoline,. I was surprised because while the price is up, it is my understanding demand in down. Never the less, I thank you for the articles. Gas, nat gas, oil, equity indexes are all of interest to me. I am always looking for well written informative articles and will look forward to more from you .
Reblogged this on This Got My Attention and commented:
Interesting. Taxes are the second largest cost component in gasoline after the cost of crude oil!
Pingback: Chart of the Day: Components of the Gas Price
It is really sad, oil companies do not take advantage with your picture.