NOT a Typo: Price of Barrel of Oil = 10¢ (As in CENTS, not Dollars)

$%#@?!!

Ok, so 10¢ is the wholesale price of a barrel of oil right now — specifically, something called “West Texas Intermediate crude” — not the retail price (at the pump).

And refining and transporting oil isn’t free.

But, given that there are 31.5 gallons in a barrel, that translates to something like .03¢(!!) a gallon before adding shipping and refining costs.

Of all the shocking economic developments the last two months, this one ranks near the top (bottom??) . . .



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