Oil v Gas Prices…
I was thinking the other day about whether the price of gas at the pumps reflected the cost of oil sold in barrels. I somehow got the impression that we were being ripped off somewhere along the line and so I went out on the Internet to see if there were any comparison tables available. I couldn’t find any.
So, I managed to get hold of historical oil prices (per barrel) and also historical gas prices (per US gallon) and then I put them together into an Excel spreadsheet. The results are as below. Please click on an image to get the big picture. The intersting thing is that gas and oil prices have in fact kept steady with each other over the years. Also by plotting a scatter chart of the prices against each other, you can do a crude lookup (pun intended!) as to what gas should be if you know how much oil is, and vice versa.
Just something interesting for a rainy day…
