Posts Tagged ‘West Texas Intermediate’

  • Because of monopolistic competition, gasoline retailers has some control over price.

    Up Like a Rocket, Down Like a Feather

    Oct 24, 14 • 189 Views • No Comments

    At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less steep downward trajectory. One economic study observed...  [read more]

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    High and Low Gas Prices

    Mar 16, 12 • 274 Views • No Comments

    Why is the average price of a gallon of regular gasoline in Wyoming close to $3.36 and New York, $4.00? Location and regulation. Wyoming produces oil, it refines it, and, its taxes are among the lowest in the country. Also because of good location and less...  [read more]

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    An Oil Surprise

    Feb 24, 11 • 256 Views • No Comments

    As the turmoil in the Middle East unfolds, if you want to sound knowledgeable about oil, you could just say $147, contango and floating storage. As you can see on this graph, it was mid-July, 2008, when the price of oil peaked at slightly more than $147 a...  [read more]