Rise of 30% since June follows increasing demand in China and production cuts by Russia and Saudi Arabia
  • JasSmith@kbin.social
    1·
    1 year ago

    The price per barrel includes almost all those expenses, so inflation should be reflected there.

    Right, which means that the inflation adjusted price of oil today is significantly lower than it was in 2008.

    • chiliedogg@lemmy.worldEnglish
      1·
      1 year ago

      Yes, but the price at the pump isn’t reflective of the current price of oil, which is the whole point of what I’m saying. The price of oil hasn’t kept up with inflation while the price at the pump has outpaced inflation.

      There’s some fuckery there.