A von Altendorf

G-7 Central Bankers Stymied By 'Crude Oil Vigilantes'

Gary, I'm sympathetic, but take exception to the math. You said: "At the pump, $150 per barrel for oil translates into gasoline prices of $4.50 a gallon." A 42-gallon barrel of crude yields 20 gals of gasoline, plus some diesel, kerosene, and lubricants. If you factor refining costs, transportation and retail mark-up, $150 per barrel for crude should price regular unleaded at $6.00 or so, depending on availability of additives. And if demand falls, retail prices will rise farther, IMHO.