I’m pretty good with math. But when it comes to gas prices I’m pretty sure that everyone is pretty good! And for me, the numbers don’t add up. Let’s take a look…
When oil was $147 a barrel, gas prices at the pump were about $4.59 in Orange County for regular grade fuel.
Now, oil is at about $92 - $97 per barrel depending on which day it is (and which financial institution is crying out for help). My math says this is a $50+ decline in the price of oil which is about 40% off the high and gas costs $3.69 which is about 90 cents lower or a 20% drop in cost.
Why don’t we get a 40% drop in fuel costs if oil drops by 40%? Do you know the answer?
What’s happening in your area? Please send in comments.
And thank you for making me Your Orange County Real Estate Connection.
Best regards, Michael Caruso Broker ABRM CRB CRS GRI
2007 President, Orange County Association of Realtors
No comments:
Post a Comment
Leave a Comment!