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NoTrespassing
Elite Member
123-75%=30.75
Midwest Gasoline to Spike $0.50-$1.00 Per gallon
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Snobdds
Super Member
World markets determine prices, not just one country.
Goldman Sachs warns that Russia and Saudi cuts could send oil prices above $100 a barrel by the end of 2024, just in time for Election Day
Should oil producers choose next year not to reverse their cuts, then the Biden administration may have a problem on its hands.www.yahoo.com
No. We have WTI for the US market. We have Brent Crude for other world markets. Then there is the Dubai/oman for other markets.
Not all oil is the same.
Snobdds
Super Member
Where did you learn math. But lets check your work. If you take 30.75 and add in 75% to it (add a 1 to the % and multiply), what do we get? 30.75*1.75 = 53.81.
The way you subtract a percent from a whole number is...(add a 1 to the % and divide)
123/1.75 = 70.29
Check the math
70.29*1.75 = 123
You don't want to play in my sand box with me.
Torvy
Super Member
Pretty sure I didn't say 1 country. I used the plural, iirc.World markets determine prices, not just one country.
Goldman Sachs warns that Russia and Saudi cuts could send oil prices above $100 a barrel by the end of 2024, just in time for Election Day
Should oil producers choose next year not to reverse their cuts, then the Biden administration may have a problem on its hands.
Snobdds
Super Member
Last edited:
V1 is initial number (in terms of time old)
V2 is the new/final number (in terms of time new)
percentage change = (Vfinal - Vinitial) / Vinitial × 100%
Snobdds
Super Member
Just think about it logically and stop repeating what your website says. It obvious your confused.
The price dropped from 123 to 70. You can always check math, with math. So lets check it.
70 * 1.43 = 100.10
70* 1.75 = 122.5
Damn , this is not hard.
I taught math to undergrads while I was a grad student. There was always a kid on a hill that, even when presented with mathematical checks, would argue he was right. They never were.
We are here.
WM75Guy
Elite Member
This will not help the price of gasoline.
Your chart.
12/2021 - $70
6/2022 - $123
3/2023 - $70
There was a 75% increase in value between 12/2021 & 6/2022
There was a 43% decrease in value between 6/2022 and 2/2023
If we are discussing percent change over time for a value. This is how it works.
If it was 50% decrease in value from 6/2022 to 3/2023 would have bee 61.50, 75% decrease in value 30.8, 100% decrease in value 0.
… the order of the values in the numerator doesn’t matter much, the correct denominator value is what is important, original/first value always goes in the denominator, provided you can figure out a negative number…
I don’t have any base math texts from grade school for a pure percent change formula that isn’t ‘from the web’, but here is a percent change snippet from Mechanics of Materials by RC Hibbeler from an entry level engineering class.
Not sure what you are trying to prove with this:
70 * 1.43 = 100.10
70* 1.75 = 122.5
70 with a 75% increase is indeed the same as 12/2021 to 6/2022.
(123-70)/70 * 100% = ~75%
Your proof however doesn’t reflect percent change.
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Snobdds
Super Member
See, in post 40 I defined what I was calculating, which is the last cycle of peak to trough.
Then you come along and have to redefine what I was calculating to make your point of: Trough to peak, to trough again.
You change the goal posts.
All that *100 at the end does is move a decimal point over by 2. However I express the solution in a %, which does the *100 automatically. I know that .75 expressed as a % is 75%. See post 40 again to see my solution is in a %.
Your not going to get me in a game of gotcha with math. I'm an Actuary, I do math all day every day for a living.
MossRoad
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Here's the things most of us see....
$123 high
$70 low
That's a difference of $53
$53 is about 43% of $123
Most of us see a 50% price decline from $123 as leaving it at $61.50.
A 75% price decline from $123 would be leaving it at $30.75.
Without slinging insults, is there a different way of explaining it to come up with another answer?
$123 high
$70 low
That's a difference of $53
$53 is about 43% of $123
Most of us see a 50% price decline from $123 as leaving it at $61.50.
A 75% price decline from $123 would be leaving it at $30.75.
Without slinging insults, is there a different way of explaining it to come up with another answer?
Snobdds
Super Member
see post 43.
MossRoad
Super Moderator
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I did. We all did. None of us understand what you're trying to convey there.
Haven't seen one person get the lightbulb turned on and say "Ah, now I get it."
Most of us believe if something costs a dollar, and then it costs 50 cents, that's a 50% price drop.
If something costs $123, and then it costs $70, that's a 43% price drop.
Glad you figured out decimals to percentage as an Actuary.
“So if we take the peak of 123 and the low of 70, which was March of 22-March of 23 that is a 75% decline of price.”
The goal posts you set above.
Time and values.
$123 - March 22
$70 - March 23
I added the other through to peak for clarity of point on calculations.
Snobdds
Super Member
Moss...you've always been a reflexive contrarian.
If you understood post 43...I mean really understood it. You would have your ah ha moment. But again, contrarian.
It dropped by 75%. I don't know how else I can make you understand that.
Snobdds
Super Member
I'm glad you finally figured out all my solutions were in the proper percentages already.
Good job.
MossRoad
Super Moderator
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I don't understand post 43, that's why I'm asking.
Snobdds
Super Member
One more time...
If something goes from 123 to 70, how is that expressed in as a % change?
Well...
(123-70)/70 = 75% (I already did the x100 to express as a % for mr. bnold's hang-up). The price went down 75%.
We can check that number to make sure. To check you can do it two ways:
From the starting point of 70: 70*1.75 = 123
From the ending point of 123: 123/1.75 = 70
I hope you can see the multiplicative relationship here. It dosen't matter where starting point is, the relative ratio works either way. I explained earlier how to add (multiply) and subtract (divide) to keep the % change a constant ratio between two points.
I really have no other idea how to make you understand.
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