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Why the big discrepancy in oil prices?
Today, February 2, 2011, the closing prices for oil/jet fuel oil were:
Oil Price $90.86 0.09 (0.10%) Jet Fuel $117.89 1.49 (1.28%) Seems to me the airlines are getting ROYALLY SCREWED. Why is their a 30% surcharge for oil we use? Looks like it's about time someone started looking into/doing something about this. No wonder we're having such a hard time making money. The oil companies are reporting RECORD profits AGAIN and the airline employees (management NOT INCLUDED) are going to be taking it in the shorts again if this keeps up. Enough is enough................:mad: |
OMG someone just sneezed.....that could send oil prices through the roof, better go invest.
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Originally Posted by ewrbasedpilot
(Post 940997)
Today, February 2, 2011, the closing prices for oil/jet fuel oil were:
Oil Price $90.86 0.09 (0.10%) Jet Fuel $117.89 1.49 (1.28%) Seems to me the airlines are getting ROYALLY SCREWED. Why is their a 30% surcharge for oil we use? Looks like it's about time someone started looking into/doing something about this. No wonder we're having such a hard time making money. The oil companies are reporting RECORD profits AGAIN and the airline employees (management NOT INCLUDED) are going to be taking it in the shorts again if this keeps up. Enough is enough................:mad: The difference is the cost of converting it to Jet fuel. Referred to as the "crack price". |
There is a chemical difference between gasoline, jet fuel and other petroleum products. The market, and speculation, drives the price of each of these.
Crack spread - Wikipedia, the free encyclopedia |
It is the called the "Crack Spread"
I think the Egypt issue and the questions around access to the Suez Canal are the reason for the recent rise. Speculation generally widens the spread of these products, which is commonly referred to as the Crack Spread. Part of the reason many Industries are calling for the end of Oil Speculation. |
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Originally Posted by Monkeyfly
(Post 941006)
The difference is the cost of converting it to Jet fuel. Referred to as the "crack price".
Originally Posted by chuckyt1
(Post 941021)
There is a chemical difference between gasoline, jet fuel and other petroleum products. The market, and speculation, drives the price of each of these.
Crack spread - Wikipedia, the free encyclopedia
Originally Posted by acl65pilot
(Post 941028)
It is the called the "Crack Spread"
Hey, anyone know what a "crack spread" is?:rolleyes: |
Originally Posted by ewrbasedpilot
(Post 940997)
Today, February 2, 2011, the closing prices for oil/jet fuel oil were:
Oil Price $90.86 0.09 (0.10%) Jet Fuel $117.89 1.49 (1.28%) Seems to me the airlines are getting ROYALLY SCREWED. Why is their a 30% surcharge for oil we use? Looks like it's about time someone started looking into/doing something about this. No wonder we're having such a hard time making money. The oil companies are reporting RECORD profits AGAIN and the airline employees (management NOT INCLUDED) are going to be taking it in the shorts again if this keeps up. Enough is enough................:mad: |
Originally Posted by Justdoinmyjob
(Post 941039)
Hey, anyone know what a "crack spread" is?:rolleyes:
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Originally Posted by Justdoinmyjob
(Post 941039)
Hey, anyone know what a "crack spread" is?:rolleyes:
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