Originally Posted by
Eastbay1K
First of all, you're likely buying oil from the harvest of either of the past two years. Second, you're buying oil that probably already had a contract price that isn't affected by today's price.
But the price rises have happened. In Europe they're complaining that the price of olive oil has gone from
€2.50 to €5 a litre which is about US$5.40 litre. Again that is what consumers are paying not what the spot wholesale price is. I guess the question really is why is olive oil so expensive in the US right now?