Yes, yes, OK, there’s a long list of things I didn’t and don’t know but at least I do now know this:
This left refiners with a lot of stock that they could only shift by
keeping prices down, Mr Holloway said. In any case, the market dynamics
of petrol are very different to crude. Once the raw material is boiled
down and turned into petrol, this end product has a limited shelf life.
Petrol is difficult to store, and goes off after a time. It can be
re-processed, but this is an expensive procedure.
Petrol has a shelf life? Who knew?
Another nice point made by Dean Baker. Yes, the oil price is rising in $. But the dollar is falling against other currencies. The price in € and £ isn’t rising as fast at all.
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