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post #32 of (permalink) Old 6th June 2008
Mike11
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Quote:
Originally Posted by madnoel10 View Post
The price of oil is not exactly what it costs today but what it is likely to cost in the next 4-6 weeks. It is not the only product which is bought this way - timber and grain are other examples. What you have to remember is that the countries that supply the oil want a guaranteed price before they pump it out of the ground and is delivered to the refineries all of which takes time. Hence the delay in reducing prices although financially the oil companies just love to hold on to their money as long as possible.
That's the problem with them. They will put the price up as soon as the price of oil goes up, however, the don't reduce it as quick when they price goes back down.

That is the argument. They will take from you quicker than a speeding bullet but they give it back at the speed of a snail.
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