Oil down $7 to $101
- Thread starter wallyuwl
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Originally Posted By: wallyuwl
But I'm happy about it.
I'll be happy if and when this translates to lower prices at the pump... so far it hasn't, even though crude oil prices have been on the decline for the past 4 days.
But I'm happy about it.
I'll be happy if and when this translates to lower prices at the pump... so far it hasn't, even though crude oil prices have been on the decline for the past 4 days.
Originally Posted By: Quattro Pete
I'll be happy if and when this translates to lower prices at the pump... so far it hasn't,
I thought it was funny driving to campus today. One station that was $3.75 yesterday is $3.95 today. One that was $3.99 yesterday is $3.75 today.
I'll be happy if and when this translates to lower prices at the pump... so far it hasn't,
I thought it was funny driving to campus today. One station that was $3.75 yesterday is $3.95 today. One that was $3.99 yesterday is $3.75 today.
Probably a combination of factors. Canadian elections, OBL's offing, and lower domestic demand.
Seeing as it took three months for pump prices to run up to where they got, I'm not expecting to see 'em fall back overnight. Around here prices have fallen $.10 in the past 3 days.
Part of the problem in the Chicago to Milwaukee corridor is a federal mandate to use seasonal reformulated blends. This [censored] has been in effect for 25 yrs, and somehow we always get smacked with a 25 cent increase every Spring as the refineries somehow haven't noticed this requirement after all these years.
Seeing as it took three months for pump prices to run up to where they got, I'm not expecting to see 'em fall back overnight. Around here prices have fallen $.10 in the past 3 days.
Part of the problem in the Chicago to Milwaukee corridor is a federal mandate to use seasonal reformulated blends. This [censored] has been in effect for 25 yrs, and somehow we always get smacked with a 25 cent increase every Spring as the refineries somehow haven't noticed this requirement after all these years.
I sold all of my energy stocks on 4/29 as many of them were near their 52 week highs.....been all down hill since. Don't you like it when that happens? I was up 15% for the year and didn't feel comfortable with the next few months. In addition to the swelling supply of oil, I would stay away from commodities for the next month or two with the "perceived strengthening" of the U.S. Dollar as we get closer to the debt ceiling debates. I would stay away from commodities for a month or two...at least.
I like how as soon as crude drops a few percentage points, there are analysts that pop up on CNBC saying how it is going to $150. Nothing like being invested in crude and having an outlet like CNBC to give your "opinions" in attempt to sway the market back toward your own self interests.
I like how as soon as crude drops a few percentage points, there are analysts that pop up on CNBC saying how it is going to $150. Nothing like being invested in crude and having an outlet like CNBC to give your "opinions" in attempt to sway the market back toward your own self interests.
It's those evil speculators driving the price of gas down!
Its simply the usual dip we see from time to time and nothing more. Not a sign of a trend, and to draw any kind of conclusion that this is a sign of any such trend is wish thinking that will be crushed when it inevitably goes up again. And eclipsing prior highs.
It goes up. It goes down. The overall trend has and will remain upward.
-Spyder
It goes up. It goes down. The overall trend has and will remain upward.
-Spyder
Originally Posted By: shrooms
Yep, just saw that. Hope it gets to $35bl like a couple of years ago.
That's a nice pipe dream. Too bad that's all it is.
-Spyder
Yep, just saw that. Hope it gets to $35bl like a couple of years ago.
That's a nice pipe dream. Too bad that's all it is.
-Spyder
Originally Posted By: Reddy45
The price you pay at the pump today is not reflective of the cost of oil today.
Yeah, that's what the oil companies like to tell us whenever crude oil prices go down. But the moment crude prices go up, suddenly the prices at the pump become very reflective of it.
The price you pay at the pump today is not reflective of the cost of oil today.
Yeah, that's what the oil companies like to tell us whenever crude oil prices go down. But the moment crude prices go up, suddenly the prices at the pump become very reflective of it.
Also this weeks auto sale data that showed buyers are aggressively moving to more fuel efficient vehicles.
Originally Posted By: rshaw125
Also this weeks auto sale data that showed buyers are aggressively moving to more fuel efficient vehicles.
Which I am in favor of because I am a thrifty person.
Also this weeks auto sale data that showed buyers are aggressively moving to more fuel efficient vehicles.
Which I am in favor of because I am a thrifty person.
Originally Posted By: rshaw125
Also this weeks auto sale data that showed buyers are aggressively moving to more fuel efficient vehicles.
And there we find as good an explanation as any I've seen. We collectively are so desperate for any relief at the pump, that we are easy marks for the same old bait and switch people fall for time and again. Prices drop, and people eagerly embrace this as some kind of trend to come - ignoring all facts to the contrary - because it best fits what we want to believe.
The sad part is that a few of those looking at the more FE car they can actually afford with today's real oil prices - and not these transient illusory trends - will take this as a sign that gas is in fact becoming cheaper, and opt instead for the bigger car they want to have and take this as 'proof' they can now afford.
Too bad it'll already taken its biggest depreciation hit when the price inevitably, and all too soon - except for them - shoots skyward again.
Its just one big shell game.
-Spyder
Also this weeks auto sale data that showed buyers are aggressively moving to more fuel efficient vehicles.
And there we find as good an explanation as any I've seen. We collectively are so desperate for any relief at the pump, that we are easy marks for the same old bait and switch people fall for time and again. Prices drop, and people eagerly embrace this as some kind of trend to come - ignoring all facts to the contrary - because it best fits what we want to believe.
The sad part is that a few of those looking at the more FE car they can actually afford with today's real oil prices - and not these transient illusory trends - will take this as a sign that gas is in fact becoming cheaper, and opt instead for the bigger car they want to have and take this as 'proof' they can now afford.
Too bad it'll already taken its biggest depreciation hit when the price inevitably, and all too soon - except for them - shoots skyward again.
Its just one big shell game.
-Spyder
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