Oil Drop

they are fighting down here aroung Princeton for gas. Trying to get it before the increase.
Oh...wife just said fighting everywhere in Johnston County.
People are in lines at the local Handy Mart and the price went up while people were in line
 
This is exactly what the oil company wants. They want people to run and fill everything so they can make the excuse that the demand has skyrocketed and that they don't have the supply to meet it, thus jacking up prices. If people would just realize that not all of our gas is refined in texas and the gulf, and they would just calm down and buy fuel like normal, gas wouldn't skyrocket the way it does with every major storm or perceived supply disruption.
 
wait so Katrina fubarred us because 90% of our gas is refined and piped through LA/MS....and now Ike is gonna slap a bitch because all thee oil is refined in texas

Geez get your theories straight.
The news media needs to be brought up on charges of fear mongering and the oil companies for collusion. The local station owners, I am fine with theey are jusst business men.
 
yeah, we were following the rall of oil because we were anticipaiting sub three dollar gasoline prices. with the latest media induced fuel panic, that's pretty much shot those hopes to shit.

with no refineries up and running, no one is buying the oil. that results in a drop in cost per barrel. it's going to go up for a little while till americans get their heads out of their asses.
 
99.81. doesnt seem to matter currently. hopefully it will continue to fall once the hurricane is over
 
By Friday we should see nice prices I hear.
Pipline survived intact and operational.

Prices are futures until market opens tomorrow.
 
$96.18
From CNN

Oil: Oil prices plunged as early signs pointed to little damage to oil rigs and refineries in the Texas Gulf region from Hurricane Ike.
Oil prices were down $4.20 a barrel to $96.18. Oil dipped below $100 a barrel on Friday for the first time in five months
 
Well, crude ran up on contracts ending, and is now coming back down. Off $8/barrel today to $98.70 as of lunch time.

http://money.cnn.com/2008/09/29/markets/oil/index.htm?postversion=2008092912

Economic weakness worldwide, combined with a seasonal downturn in demand for petroleum products, could drive the price of oil to $75 a barrel, according to Schork.

I am still thinking that once all this washes out in a few weeks or so, that we could see gas around $2.50-$3.00/gal.
 
drkelly said:
Well, crude ran up on contracts ending, and is now coming back down. Off $8/barrel today to $98.70 as of lunch time.
http://money.cnn.com/2008/09/29/markets/oil/index.htm?postversion=2008092912
Economic weakness worldwide, combined with a seasonal downturn in demand for petroleum products, could drive the price of oil to $75 a barrel, according to Schork.
I am still thinking that once all this washes out in a few weeks or so, that we could see gas around $2.50-$3.00/gal.
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BigRedB2 said:
agreed.
Click to expand...
Call me a skeptic, but I doubt we'll ever see those prices again.:shaking:
 
$86.95/barrel at lunch time today.
 
Under $80 a barrel now. Where is the relief at the pump? Same jackass down the street from my house has only dropped $.10 and is now charging $3.89/gallon.
 
Crude is running $80 a barrel, gas is trading at $1.87 a gallon rigt now. Pump prices are more closely related to the trading price oif gas than oil. Generally you can ad ~$0.50 a gallon (depending on taxes and transit costs) to the avg traded price for a week and get a good proximity where the station would buy a tanker delivery in that week.

Gas prices here fell under $3.00 yesterday and will continue to drop. The local station paid $2.90 a gallon to fill their tanks, they added $0.09 per gallon and posted $2.99 as the price. He expects gas prices under $2.75 by his next delivery in about a week.

Your local stations are screwing you or they are just really slow to run thru the gas they bought at $3.50 plus...
 
Mountain Ram said:
Your local stations are screwing you or they are just really slow to run thru the gas they bought at $3.50 plus...
Click to expand...

But it is funny how they were quick (within 24 hrs) to raise there prices based on crude market value when prices where climbing. Fawking gougers!
 
$66.75 today. Gas prices should continue to drop.
 
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