I dont have to, all I have to do is go to the gas stations and watch how they react to price fluctuations in oil.
I understand that when oil prices rise they quickly raise rates and when oil prices drop it takes weeks. The gas is still the same in the pump. So all the graphs and figures will not change my mind or the majority of consumers who see this with there own eyes. Yes I do have stock in energy companies also.
That graph and common knowledge shows a 1 to 1 correlation. Right now demand is down and production is up so prices are going down. It isn't going to follow exactly since the prices have to reach the pump first.
If you own a station and you know your going to have to pay more for the next truckload you are going to raise prices immediately. If you are going to have to pay less, you raise it later and enjoy the profit, unless your competition lowers his.
The libs have eliminated the competition by forcing the independents out with their clean-up laws which made owners pay millions to keep running. Now the independents are gone and enjoy the monopoly. Thank you libs.
So the overriding factor is the price of crude as the chart shows.
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