A refinery must keep running so they buy futures as a hedge to ensure a supply and at a predictable price. For a refinery were to buy on a month to month basis on the spot market is suicide. I suspect the price adjustments occur on the business side, the refinery just outputs at price X. It is true that smaller companies buy there gas form the refineries of the bigger companies. The difference is the additives. Did anybody notice the sign on CDN tire gas..."may contain up to 10% methanol"...and this is not just a winter thing...they use butane for that
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