Buying Advice US/$ at its highest level in twenty years

[grsthegreat]

The crude oil that the refinery bought to make the fuel you’re pumping today was bought quite some time ago. Like anything, retail prices take a while to catch up with input costs. Unless they’re going up of course, then they mark it up over night.

not true...they raised the price on gas using the crude they purchased at lower price. they didnt wait one second.

 

[Bill Guenthner]

not true...they raised the price on gas using the crude they purchased at lower price. they didnt wait one second.

That’s literally what I just said. What part of overnight was confusing?

 

[5030]

'They' are a for profit companies last time I checked.

 

[grsthegreat]

The difference is gasoline is like utility power and water. Those are regulated as they really effect peoples lives. Imagine if cost of water and electricity could skyrocket overnight. You can elect not to purchase lumber, but without gas you cant get to work to afford your rent or mortgage. Gas companies are gouging people right now.

 

[newbury]

Imagine if cost of water and electricity could skyrocket overnight.

Didn't Texas try that?

 

[priberc]

Yes, the US dollar seems strong internationally and that usually results in lower prices for manufactured goods like most of the compact tractors and parts.
It will be interesting to see if lower costs of imports results in lower prices to the consumers.
rScotty

I am betting prices don't drop....even though they "should" they wont

 

[KennyG]

I'm in Europe right now and the Euro is $1.05, the lowest I've ever seen. It's an interesting phenomenon many are unaware of. When the US stock market goes down, the dollar gets stronger, I suppose because international investors take advantage of cheap stocks.

 

[jeff9366]

I am betting prices don't drop....even though they "should" they wont

In the world of business, Walmart excepted, prices rarely go down, but promotions may dramatically increase.

 

[jyoutz]

'They' are a for profit companies last time I checked.

Yep, and shareholders want to recoup their 2020 losses.

 

[NoTrespassing]

I've watched Philippine Peso/US Dollar exchange rates since I started "dating" my wife online in 2005. Rates have varied from a high of about 54/1 to a low of about 40/1. That's a big difference when sending $100 to relatives there. Right now it's at 52.5/1 which is pretty darned good and makes paying tuition for a little sister or buying her a laptop a lot less painful. My wife is actually considering purchasing some property near her parents home that her uncle owns. Now would probably be the time, she holds both US and Philippine citizenship. Unfortunately that's probably something better done in person.