Posted by x22 on June 10, 2008 at 10:56:04 from (64.89.164.123):
In Reply to: You are now in charge posted by john in la on June 10, 2008 at 06:40:04:
Identify the cause of the spike. It is not a supply or demand issue because there are no shortages of gasoline or diesel and demand is down. I saw on the news a few weeks ago when the price of oil hit $100,that one contract hit that price during the day then the price settled lower. IMO this is the source of the problem, the trading pit, like other financial markets where the big players control the action.
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