"john smith" wrote in message
. ..
Isn't it interesting that the media isn't telling us that the fuel at the
pumps and the oil at the refineries was purchased a year ago.

Mike Rapoport wrote:
Where do they keep it? Must be huge this 17,520,000,000 gallon tank.

Come on, Mike!
Help me out here... how do future contracts work?

I believe that October futures are what is being traded now. If I go buy
contracts for a million gallons of unleaded fuel I own the rights to gas
that is going to be delivered in October. If I buy it at say $2.69/Gal and I
can sell it at a later time up to the delivery date for a higher amount I
make money. If I choose not to sell the contract I'm going to be looking for
a real big gas tank come October.