Crude oil dropped 9% today....

[SILVERHAWK]

oil dropped that much and here our gas went down 2 cents yesterday but only at select stations. And its still higher than the morning after Bin Laden was killed when it went up 12 cents overnight and the day before that oil dropped 2 percent. Its a crock they won't be happy until its 5 to 6 dollars a gallon.

[NateSS]

it should be awhile before it starts to go down, if it goes down at all.

Chances are, on its slow and painful way down, crude will rise again and then gas prices will bounce back to where they were.

its depressing how some commodities work

[SILVERHAWK]

Right, its not going down in a hurry anytime soon. I got 4 words for ya--MEMORIAL DAY AND SUMMERTIME. lots of driving = high profits to be made they're not stupid and we will all line up at the stations to fill their pockets


Hell, our societal changes are halfway pushing this trend anyway. By that I mean, the push to get away from using oil/gasoline. Electric cars, hybrids, running on hydrogen etc... its threatening the oil companies well being. I can't see us totally breaking away from the use of gasoline at least not in my lifetime but its going to affect their bottom line sooner or later. Just like email and the internet has put the pinch on the Postal service why mail a letter that can take days to get somewhere when I can instantly send a message around the world for nothing. Thats why postage has gone up so much and they want to cut back on days of service.

[8cd03gro]

Yeah right, they'll start putting 20% ethanol in soon and it will be $0.25/gallon more for no clear reason. I've given up on gas prices being reasonable and just accepted it as the world's greatest scam.

[ck204]

Originally Posted by irocnroll

It wont change. Our inflation is out of check and the value of our dollar is one of the reasons gas is rising for us but falling or staying the same for everyone else in the world.

Well the current gas price is more due to the middle east/north africa issues plus speculator/oil traders pushing it....probably more due to these oil traders.

Originally Posted by SILVERHAWK

oil dropped that much and here our gas went down 2 cents yesterday but only at select stations. And its still higher than the morning after Bin Laden was killed when it went up 12 cents overnight and the day before that oil dropped 2 percent. Its a crock they won't be happy until its 5 to 6 dollars a gallon.

It's always like that man, when oil drop, the hold the high price as long as possible, but when oil go up, they change it within hours if not minutes.

However I doubt they can really make it 5-6 dollars a gallon without pushing the crude price to $140-150 level....(even then the bubble will burst and not last long)

Originally Posted by Sgt H

it should be awhile before it starts to go down, if it goes down at all.

Chances are, on its slow and painful way down, crude will rise again and then gas prices will bounce back to where they were.

its depressing how some commodities work

The way I see it works, it may not go down soon but the current economy is not strong enough to support oil at the current price for an extended period of time.

There's no doubt that oil price will continue to go up over time and $110 per barrel will eventually be a standard price for oil in a few years, but if the oil price stay at where it is right now it will effect the economy. People save more spend less, economy stop recovering and market can't support the high oil price...2008 repeating itself.

Originally Posted by 8cd03gro

Yeah right, they'll start putting 20% ethanol in soon and it will be $0.25/gallon more for no clear reason. I've given up on gas prices being reasonable and just accepted it as the world's greatest scam.

Making ethanol with all the corns, great way to jack up the food and gas price at the same freaking time. Whoever came up with that ****ing idea should get shot. :slice:

[Stingr69]

The pump price goes up fast and down slow. The Keynsean invisible hand makes it so. You can't fight that.

-Mark.

[SILVERHAWK]

Even better I just went out around town and low and behold oil went down and at a few stations the price either didn't change or it actually is 2 cents higher than yesterday!!!!!!!! TOTAL BS!!!!!

[CJ Man]

Price lock anyone?

[Stingr69]

Originally Posted by CJ Man

Price lock anyone?

You know you can do that yourself.

Investing in oil futures. Your $ is then locked in. If the price of crude goes up, you can cash out of your contract and pocket the difference. That IS a price lock. The value of the contract will move up in lock step once it gets to be "in the money". Of cource the price of crude can also go down or remain the same in which case your investment will expire and become worthless.

Just thought I would bring it up.

-Mark.

[PoorMansCamaro]

Originally Posted by CJ Man

Also when crude goes up gas goes up immediately. Then prices for goods and services go up because of gas prices. Then crude goes down and everything stays the same.

that's not really true. what happens is, oil goes up so gas goes up 30 cents, people complain. oil goes down, gas goes down 15-20cents, so people complain less.

pretty much the oil companies take two steps forward, then one step back...vicious cycle...

[jcamaro]

Oil prices going up means pump prices skyrocketing instantly.

Oil prices going down means pump prices level off for a week before continuing to skyrocket.