Why the big discrepancy in oil prices?
02-02-2011 | 04:25 PM
#1
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HOSED BY PBS AGAIN
Joined: Mar 2005
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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................
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................
02-02-2011 | 04:37 PM
#3
Widebody
Joined: Apr 2010
Posts: 777
Likes: 0
From: 777 CAP
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................
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................
The difference is the cost of converting it to Jet fuel. Referred to as the "crack price".
02-02-2011 | 05:09 PM
#4
Gets Weekends Off
Joined: Dec 2007
Posts: 472
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From: Fero's
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
Crack spread - Wikipedia, the free encyclopedia
02-02-2011 | 05:24 PM
#5
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Joined: Jun 2006
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From: A-320A
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.
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.
02-02-2011 | 05:27 PM
#6
Gets Weekends Off
Joined: Mar 2010
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From: In front of my computer
02-02-2011 | 05:38 PM
#7
Looking for a laugh
Joined: Feb 2008
Posts: 4,099
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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
Crack spread - Wikipedia, the free encyclopedia
Hey, anyone know what a "crack spread" is?
02-02-2011 | 05:39 PM
#8
Gets Weekends Off
Joined: Jun 2007
Posts: 4,196
Likes: 51
From: Legacy FO
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................
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................
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