The oil future's traders are not like the gas statioins at all, the stations are given a price per gallon when they want to buy, take it or leave it. The future's traders are driving the price up and reaping a profit for themselves in the procesess. The oil companies are actually geting in on the future's market. Its basically a big game of hot potatoe, at the end of the month you have to take posession of the oil, and if you are the oil company, you already have it and it does not cost you a dime to pay yourself immagionary money, but for the oil that does not go back to the oil companies the price has been inflated by unnessescary middle men. and the price of a barrel is going up now because the traders believe the price will go up in november....
One of the guys I work with was telling me about a good article where an oil futures trader was discribing what they actually do. I will ask him to email me a link and I will post it up. There was also a show on CNN where they were talking about the price on gas and what is causing the rapid increase. They had Enviornmentalists, senators, oil company reps, futures traders and I think some more in the same room discussing it. I'm trying to find a link of the vid or a transcrpit to post up as well.
~Alex