Why are oil prices so high now when its for "May Delivery"?

Question

Todays article on yahoo (http://news.yahoo.com/s/ap/20080415/ap_on_bi_ge/oil_prices) lists the prices are for "Light sweet crude for May Delivery". But if its for delivery in May, why are prices raised now? And how often can a station change its prices? Ive seen one station change twice in a day after two trucks fill up the tanks.

Answer 1

oil man in the white house

Answer 2

Cause soon it will b Summer n ppl gets out on vacations n recreational activities more than in Winter. The demand is higher now than before. We r expecting prices 2 hit $4 a gallon this Summer. So, ppl lets thank the Bush administration 4 that!

Answer 3

It's a combination effect.  The switchover from the winter blend and the summer blend slows down production a bit while refineries are taken out of service to make the change. Oil futures are at their record high as a result of traders (or are they traitors?) Oil producers aren't willing to increase their production at the rate of increase of demand.

Gas stations have no limit on how many times they can change their prices. They have no choice but to raise prices when their fuel price goes up.

Answer 4

because the orders for may are already coming in, the demand is high and so is the price

Answer 5

Becuse we the American people are to lazy to do anything about it.. Boycott what I say.