Oil below 130

[imported_Imp]

Better empty the beer kegs.

 

[Ronstang]

Originally posted by: Nitemare
Should only take a few months for the price at the pumps to reflect this change

So the $0.10 decrease in the price around here in the last few days is just a put on? I saw gas for $3.87 yesterday and it was at $3.99 almost everywhere the day before.

 

[TXHokie]

Woohoo...gas here dropped from $3.99 to $3.97. Yeah - whatever.

 

[*kjm]

I hope it drops to $70 and we see suits falling from the sky:|

 

[AlienCraft]

Originally posted by: Capt Caveman

Originally posted by: AlienCraft

Originally posted by: Capt Caveman

Originally posted by: Cogman
And yet I still haven't seen gas prices drop. No doubt if it goes up by 5 dollars Ill see the prices spike up from their current position.

That always takes time. Unfortunately, when the price goes up for oil, gas prices go up immediately.

Get real. Prices for gasoline have been benchmarked at $4.xx / ga and it'll never go down below that. EVER
Without increased refining capability, they (Big Oil) can continue to cry"wolf" in terms of supply.
They could build new refineries with all those profits they have, but they won't because it's easier to bottleneck that way.

Well, gas prices are already down this week in MA.
Mass. gas prices drop for 1st time in 4 months

Yeah, it's off .15 cents from the $4.47 here in Sacramento.
We have an additional .30 cents tax , so that needs to be factored in for comparisons.

 

[Queasy]

Well, a barrel of oil is holding at around $129/130 today. My wife said the gas stations in our area all dropped about 10 cents since yesterday. Heard another analyst say that gas prices should drop 10 to 20 cents over the weekend if this holds.

 

[conehead433]

Originally posted by: *kjm
I hope it drops to $70 and we see suits falling from the sky:|

Indeed. How about $40 though.

 

[PokerGuy]

Interesting. I was tempted to short some of the oil etf's, but in the end didn't have the guts to do it. With my luck the day after I shorted, there would be some announcement that all Saudi oil fields are infected with some parasite that would destroy it all within 5 days

I hope it continues to fall though, that can only help the economy as a whole rebound from this mess.

 

[Fritzo]

Originally posted by: ElFenix

Originally posted by: Shortcut
I hope big oil passes on the savings on to us. Cause if it were the other way around, you can bet dollars to donuts that we'd bail them out. /sarcasm

i dunno what part of your post the sarcasm tag applies to, but when it WAS the other way around about a decade ago we didn't bail them out.

Oil was below $20/barrel then. Don't think that's going to happen again.

 

[Fritzo]

Originally posted by: jpeyton
I bet everyone here gas will stay above $4/gallon even with oil dropping.

It's $3.81/gallon here. What do I win?

 

[JeffreyLebowski]

All they are doing is pulling out of our vagina's because they're tired of fucking us nicely, next week will be ass sex. Get the lube ready.

 

[Fritzo]

Originally posted by: JeffreyLebowski
All they are doing is pulling out of our vagina's because they're tired of fucking us nicely, next week will be ass sex. Get the lube ready.

Wow...you smooth talker you...

 

[Srfrbum]

HAHAHA IM PAYING $3.83 FOR REGULAR.
PWNED NOOBS

NORTH NEW JERSEY FTW.

 

[dr150]

Originally posted by: darkxshade

Originally posted by: waggy
hopefully it drops another 100 bucks

don't hold your breath

NO!

Hold your breath.

I want to see you pass out!

 

[Capt Caveman]

Current National Avg Price of Gas is $4.006

looks like some people are going to have to owe others some money.

 

[MiniDoom]

Originally posted by: Srfrbum
HAHAHA IM PAYING $3.83 FOR REGULAR.
PWNED NOOBS

NORTH NEW JERSEY FTW.

lulz .10 cent gas wouldn't bring me to North NJ. You fail....probably don't even know how to pump gas on your own.

 

[dmcowen674]

Originally posted by: AlienCraft

Originally posted by: Capt Caveman

Originally posted by: Cogman
And yet I still haven't seen gas prices drop. No doubt if it goes up by 5 dollars Ill see the prices spike up from their current position.

That always takes time. Unfortunately, when the price goes up for oil, gas prices go up immediately.

Get real. Prices for gasoline have been benchmarked at $4.xx / ga and it'll never go down below that. EVER

Without increased refining capability, they (Big Oil) can continue to cry"wolf" in terms of supply.

They could build new refineries with all those profits they have, but they won't because it's easier to bottleneck that way.

You realize they cut back on refining capacity on purpose right?

 

[Anubis]

Originally posted by: rdubbz420

Originally posted by: Srfrbum
HAHAHA IM PAYING $3.83 FOR REGULAR.
PWNED NOOBS

NORTH NEW JERSEY FTW.

lulz .10 cent gas wouldn't bring me to North NJ. You fail....probably don't even know how to pump gas on your own.

lol

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: Slew Foot
Id be in for 100 paypal that avg gas in the US goes under 4.00 by November. Anyone care to go against?

I'll peg it under 4.00 by October. I'll put oil under 100 by EOY.

Anybody willing to put their money where their mouth is?

I've said all along this is one of the biggest bubble scams in the history of humanity.

Will anyone go to jail for this "biggest bubble scam in the history of humanity"?

 

[stag3]

sweet, time to buy that hummer

 

[Queasy]

Originally posted by: dmcowen674

Originally posted by: AlienCraft

Originally posted by: Capt Caveman

Originally posted by: Cogman
And yet I still haven't seen gas prices drop. No doubt if it goes up by 5 dollars Ill see the prices spike up from their current position.

That always takes time. Unfortunately, when the price goes up for oil, gas prices go up immediately.

Get real. Prices for gasoline have been benchmarked at $4.xx / ga and it'll never go down below that. EVER

Without increased refining capability, they (Big Oil) can continue to cry"wolf" in terms of supply.

They could build new refineries with all those profits they have, but they won't because it's easier to bottleneck that way.

You realize they cut back on refining capacity on purpose right?

Yes, but not for the reason you imply. They cut back because they still have to make money. The price of a barrel of oil and Americans driving less, thus using less gas, caused them to cut back.

 

[PokerGuy]

Originally posted by: dmcowen674
Will anyone go to jail for this "biggest bubble scam in the history of humanity"?

Why would anyone have to go to jail over a bubble? People speculate on the price of stuff on the markets. They can make money, they can also lose lots of money. If this is indeed a bubble, then a lot of big hedge funds are poised to lose a lot of money.

 

[DisgruntledVirus]

Originally posted by: Srfrbum
HAHAHA IM PAYING $3.83 FOR REGULAR.
PWNED NOOBS

NORTH NEW JERSEY FTW.

$3.72/gal for regular in Akron, OH.

Me>you

 

[LegendKiller]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: Slew Foot
Id be in for 100 paypal that avg gas in the US goes under 4.00 by November. Anyone care to go against?

I'll peg it under 4.00 by October. I'll put oil under 100 by EOY.

Anybody willing to put their money where their mouth is?

I've said all along this is one of the biggest bubble scams in the history of humanity.

Will anyone go to jail for this "biggest bubble scam in the history of humanity"?

I sure hope so.

Laff at the fools who said oil woudn't drop and gas would stay above 4.

Look up SemGroup to understand why.

 

[Wreckem]

Originally posted by: Cogman
And yet I still haven't seen gas prices drop. No doubt if it goes up by 5 dollars Ill see the prices spike up from their current position.

There is a reason they are called FUTURES.

Any increase or decrease in price wont be felt for over ~9months.