Wahoo! I wonder how long it will be before we see $48/barrel. For some reason that number sticks out in my mind. Wouldn't the $11/barrel of the late '90's be a blessing...I doubt we'll see that again. If we do, that will really mean the economy has gone into the tank.
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$68.92 Per bbl today, thats a 8% drop in a day. At this rate we will be seeing sixty maybe tomorrow! Fill'er up, Bizcamp
Hummm... diesel must still be $110/barrel here in Texas... It's a dollar/gallon more than regular unleaded. Lowest I've seen it lately was $3.59/gal. That's as ridiculous as $4.59... and guess what get's transported using diesel fuel?
Yup, pretty much everything.
Me thinks they shocked us with unbridled greed just so we'd think anything over $2.50-3.00 was a bargain now... I should be grateful?
Sure isn't coming down as fast as it went up. Screws up that 'economics theory'.
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. Bill & Kim's Marvelous Adventure "I firmly believe that tomorrow holds the possibility for new technologies, astounding discoveries and a reprieve from my obligations".
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On the way home the local consumer reporter said we would see $4.45-$4.50 within 45 days and that when oil prices are rising, gas prices always go up much faster than they come down when oil prices fall.
I guess it's supply side economics: the oil companies control the supply side, so they control the economics!
__________________
2006 30' Safari - "Changes in Latitudes"
2008 F-250 Lariat Power Stroke Diesel Crew Cab SWB
Family of Disney Fanatics
WBCCI# 4821 streamin across america
I don' think that you will see $11bbl oil in our lifetimes again.
Global Growth is not going away, just taking a breather.
Life is relative.
Remember, your parents paid .25 a gallon, now 2.50.
We paid 1.00 so 2.50 is good.
Average price per gallon to the future is going to be closer to 2.50 but if it stays down like that for 20 years. Wahoo Wa!
Buy Oil,
Bizcamp
__________________ He didn't expect; he was not disappointed!
Life is relative.
Remember, your parents paid .25 a gallon, now 2.50.
We paid 1.00 so 2.50 is good.
Hey, Bizcamp.....I remember needing gas in my parents' 1962 Chevy Impala, and all I had was a dollar. It gave me a quarter tank....at $0.25 per gallon.
Although, I hate the price of gas being high as much as anyone, the only thing that seems to force the automakers into research & development of cleaner, more fuel efficient vehicles is a gas crisis! Part of me hopes it stays high....
Warbler5,
I remember when I was in high school and 5 bucks was plenty of money to cruise all night on, early 70s was the last big hurrah for cheap, cheap oil. Enjoy it while you can and try to invest in a stock that will offset that gas price volitility. You'll worry less about fuel prices if your investment is paying for the gas. We are very lucky that we have the opportunity and freedom to traipse our great country and we should enjoy it while we got it, eh?
P.s. Watch the oil discoveries in Brazil, that should make prices cheaper in the coming years.
Freefueled,
Bizcamp
__________________ He didn't expect; he was not disappointed!
I guess that old myth that gas prices drop slower than they rise is dead now, eh?
$1.98gal in Harlingen Texas. Where were gas prices a few months back, over 4$?
Fastest drop in gas at the pump in the history of gas...last month!
Since gas didn't rise that fast, why did it drop that fast! Debate all you want,
gas is now set to stay average low 2.25 gal. average over the next 10 years.
What a great time to have bought the AS, eh? Timing is everything.
Get out there and enjoy the next decade.
Roll on, get gone!
Bizcamp
__________________ He didn't expect; he was not disappointed!
from IBD today "People often ask: if oil prices are falling so fast, why aren't gasoline prices? The fact is, gasoline prices in recent weeks have plunged sharply. But gasoline prices never rose as much as oil prices did in relative terms, and so have had less to fall.
Crude oil prices soared a bit over 138%; gasoline prices to their peak only rose 76%. Today they are roughly in equilibrium."
This explanation shows that the sellers of gasoline were absorbing alot of the price rise, matter of fact, they absorbed almost half the price of gasoline price increases from Jan. 07 to July 08.
So, you can complain about the higher cost of gas but the reality is that the sellers of gas only charged half of the true cost for that period, and therefore kept prices down and affordable to the consumer.
Another myth bites the dust: Gas is manipulated to cause the end user to pay too much vs the true value. Truth:The average seller of gas did everyone a favor and kept the majority of the cost of gas to a minimum for the biggest price rise period.
They can't raise the price of gas when oil is low but they keep it as cheap as possible when it is high... this is the wonder of competition and capitalism.
Next time you buy gas, let the owner know how much you appreciate what they do for you. They will be astounded that someone understands.
Educatin and Calculatin,
Bizcamp
__________________ He didn't expect; he was not disappointed!
Paid $2.81 today in San Diego, Ca. We are concidered one of the more expensive in the nation. I believe we peaked at $4.80 in this summer. Keep on comin dooown.
For a little perspective -
I was taking a class yesterday where the instructor stated that in 1973 prior to the oil embargo, oil was $2 per bbl. The embargo pushed it up to $12 in a short time.
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It's a dollar/gallon more than regular unleaded. Lowest I've seen it lately was $3.59/gal. That's as ridiculous as $4.59... and guess what get's transported using diesel fuel? 
I should be grateful?
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