Oil drops to $63 a barrel

On the same day that petrol went up to $3.59 a gallon, crude dropped to $63 a barrel.
Quick history check: same week last year, crude was $74 a barrel (source) and petrol at the pump was $2.78. (source)

Factor out the various taxes and such and the simple fact is that the oil giants are making about 70¢ more profit per gallon today than they were this time last year. And people still aren't complaining. Why? It means the average motorist is willingly giving the oil companies an extra 7 bucks to fill up their car without question!

Coincidentally, and this has nothing at all to do with memorial day having just passed, the refineries that have been offline are starting up again today, and wonder of wonders, the situation in Nigeria has settled down.

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