Posted by dej(Jed) on August 07, 2014 at 06:49:33 from (141.189.113.1):
In Reply to: Price of gasoline posted by dej(Jed) on August 07, 2014 at 05:44:11:
I ran a petroleum research lab for years. Our function was to test the quality of the various petroleum fractions produced from crude oils around the world. We received barrels of crude and our pilot plants simulated all of the various refinery processes: be it distillation, reforming, catalytic cracking or whatever. Based on the testing results(called a criude assay) the major oil refiners would then decide how to best use the crude that they had on hand. Heavy crude was then and is still now , not real desireable. Light, sweet crudes are very desireable. There is no glut on the market from over production.
They are simply clearing out some momentary excess inventory.
I wouldn't get too excited about gasoline prices going back to years ago pricing and staying there.(fuelsandlubestechnologies.org)
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