10 October 05 2011 Mad Money why gas price is artificially priced too high PA055465 x264

On the CNBC Show Mad Money (twice daily on CNBC), Jim Cramer explains why the price you pay for gasoline at the pump in the United States and in Canada is not the true value of the gasoline, but is actually inflated. How you ask? Good question. Any oil that is pulled from anywhere in the United States or Canada show be based on the West Texas Intermediate price (currently ay $80.00). Instead the price is based on the Brent Crude Oil price (currenltly at $103.00). http://www.cnbc.com/id/15839171 This is a 29% premium that is pure and excess profits for no good reason.

Category:

News & Politics

Tags:

• Oil
• West Texas
• Brent
• Gasoline
• paying too much