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239 Comments
- Zippo, on 10/06/2008, -4/+143Funny that the minute oil goes up in price the fuel companies are quick to rise the price of gas... but when oil goes DOWN in price, the price of gas stays where it is?
I, for one, am ***** sick of this obvious price gouging. - lifeisgoooooood, on 10/06/2008, -2/+70Too much fall in Crude (demand) is not a good sign ..... it just goes to show that there is some serious slowdown in the economies worldwide ....
- inactive, on 10/06/2008, -2/+46Demand is sure to decrease in the US, since soon most people won't have a job to commute to.
- annjay, on 10/06/2008, -1/+41I hope it will go down more...
- vondrak, on 10/06/2008, -1/+36That's such *****, because you know when oil raises a few bucks, gas prices reflect that change right away.
- kevinlouis, on 10/06/2008, -2/+36It will definitely help us all it it came down more.
:) - sHockz, on 10/06/2008, -1/+30go down more? it doesnt matter if it goes down. It has been around $90/barrel for awhile...yet we dont see ANY reflection of that in gas prices. We paid $3.50/gal when the barrel of crude was $160, and we are STILL paying $3.50/gal and the price is under $90
- treehugger87, on 10/06/2008, -0/+27On October 17, 2007 oil hit $89 a barrel. On 9/29/07 home heating oil was $273.2 a gallon where I live. If this article is true, then why oh why is home heating oil $382.8? The price per barrel is the same but the price I pay is up 40%
I think I might die of not surprise on this one. We are getting soaked at the pump and at home. Time to stock up on firewood I guess. - mywhitenoise, on 10/06/2008, -0/+20Oh cool, so instead of $3.70 a gallon, I can expect to pay $3.50 a gallon? Suck my dick.
- theutopian, on 10/06/2008, -3/+22Good.
Look at the bright side, the Bush Administration did do something about high gas prices.
Too bad they destroyed the world economy to do it! - inactive, on 10/06/2008, -1/+20meh...this doesnt mean *****. the markets are all manic depressive right now, so dont pull the Chevelle SS 454 out of the garage just yet.
- toasterweasel, on 10/06/2008, -1/+19Yeah the spock market hasn't been the way to go since Star Trek III. I'd go with the Scottie market. Booze is up amid all this turmoil.
- Ninh, on 10/06/2008, -1/+19The next bubble to bust is well underway.
- djphatjive, on 10/06/2008, -1/+19In other news the major car makers are bringing back out gas guzzling suv's.
- inactive, on 10/06/2008, -4/+21If your gas hasn't been falling, then you might have some dicks for station owners. Gas in my area has been on a slow and steady decline of well over a dollar from it's peek a few months back.
- Dumbledorito, on 10/06/2008, -1/+17Let's put it this way: The rise in gas prices is at a much steeper curve in relation to the price of oil than is the fall. That does strike some as being a little suspicious. If the rise in price is made based on speculation, why not the fall as well?
- darkchild82, on 10/06/2008, -0/+15'bout time!
- inactive, on 10/06/2008, -0/+14I think you may be part of the problem...
- WiseWeasel, on 10/06/2008, -2/+16Still paying about $4/gallon here in CA... Agreed with the sentiment of obvious price gouging, probably at the refinery level.
- vikramdeo, on 10/06/2008, -1/+14some relief in the tormented times
- ColonelJessup, on 10/06/2008, -10/+23Here we go again with the digg.com economic professors..........................
- IphtashuFitz, on 10/06/2008, -0/+12Only problem is that I heard one news report speculate that the big oil companies likely won't drop the retail prices all that much so that they can make more profits off this drop. We'll be lucky to see a drop of even a dime at the pump. Greedy bastards...
- inactive, on 10/06/2008, -0/+10Dugg up for a very amusing spelling error.
- borez, on 10/06/2008, -4/+14If you think the fall will be translated to the pumps, think again.
- xedd, on 10/06/2008, -0/+9$ is not hitting an all time low, actually it's been rising recently. (go figure...)
When the dollar is getting more valuable, then it takes less of them to buy a barrel of oil, and in dollar terms, the oil becomes cheaper. Just one of the factors in play, though. - Bloodwine, on 10/06/2008, -0/+9I know some are saying this is a bad sign of economic turmoil.
However, wasn't the price of crude much, much lower before oil speculation was allowed? That is, is this proof that the price of crude was less about supply and demand and more about wild speculation? Maybe crude is starting to slide back to a more sane and realistic price now. - luciferin, on 10/06/2008, -2/+11Three weeks ago I was paying $4.03 a gallon at the pump, today it's $3.23 a gallon.
What ***** are you spewing? - gametavern, on 10/06/2008, -1/+9Financial turmoil? Bring it down to below $50!
- inactive, on 10/06/2008, -2/+10Deffinate? Oh my goodness.
Definite >_>
It's okay if you're not native English. but since you were paranoid about it's spelling as is, a Google wouldn't have hurt. - sHockz, on 10/06/2008, -0/+8the excuse for charging $3.50/gal? Well the rising cost per barrel of oil of course! The peak oil price was around $160 I believe when we first started seeing those numbers for a gallon of gas.
Now, a barrel of oil is once again less than $90....yes gas prices are still $3.50/gal. Am I the only one who recognizes this correlation? - GeorgeFord, on 10/06/2008, -1/+8$2.99/ gallon this morning. I can live with that for now.
- inactive, on 10/06/2008, -2/+9Too bad the greedy ass companies and gas stations wont be dropping their prices any time soon.
- Diggity75, on 10/06/2008, -0/+7"These prices are oil futures, meaning the drop in price wont have an effect on the price at the pump for some time, at least a month."
Unless it's on the way up and then the "squeeze" is felt almost immediately at the pump. It's not a two-way street. - sangjmoon, on 10/06/2008, -0/+7it is going to be interesting to see the impact this is going to have on Venezuela. Chavez has been using the surge in oil income to grow his military and welfare programs which all have increased the ongoing cost to maintain them dramatically. With oil dropping like a rock, he may not have enough profit to pay for even the ongoing costs of his spending spree let alone his attempts to spread his influence by spending money abroad.
- RadiatedAnt, on 10/06/2008, -0/+7I just went to go get gas and the pumps are out of 87 octane since it hit 3.69 here in chicago. people are blocking roadways just to get in line.
- inactive, on 10/06/2008, -2/+8sounds good news..
- rowlodge, on 10/06/2008, -3/+9wasnt it $39 a few years ago and gas $2 why does everybody want it to go back up?
- borez, on 10/06/2008, -1/+7The price of a barrel won't translate back to the pumps.
Why? Greed... that's why. - crunshii, on 10/06/2008, -1/+7This never made sense to me. Our dollar is hitting a all time low, economy is going down to the ground, yet for the first time in 8 years... Gas prices start coming down?
- inactive, on 10/06/2008, -1/+7Still waiting for gas prices to come down as much as oil prices have. Fast to go up...slow to come down. Typical.
- GreatSunJester, on 10/06/2008, -0/+5Not really -- what we are seeing as the oil price drops is a direct reaction from the oil producers to circumvent us from becoming more self sufficient on oil. They will take their profits gladly, but will take less profits when those profits appear threatened. There is more to it than that, but this give a nice summary.
- Bravesguy18, on 10/06/2008, -1/+6Yeah, it bothers me so much to see a 40-year-old out-of-work construction worker applying for a cashier position at the new Quizno's on my lunch break. Get a real job, you bum. I bet he is rolling around in his unemployment money right now. Greedy bastard!
- kingmanic, on 10/06/2008, -0/+5Oil is not gas. Oil is used to make gas but oil is also used to make plastics, fertilizer, and many other petrochemicals. Less economic activity means less demand for the other stuff reducing demand for oil regardless of the fairly inelastic need for gas.
- inactive, on 10/06/2008, -0/+5I'm in CA too, and prices around me are sitting about $3.30-$3.40, compared to $4.65-ish during the peek.
- inactive, on 10/06/2008, -1/+6The drop in demand, thus far, is not "sign of slowdown in the economies worldwide..." It's really just a sign of Wall St speculators backing off to a more realistic perspective.
- krnldmp, on 10/06/2008, -0/+5That was about the dumbest ***** to start happening 15 years ago, but I don't care. If the auto mfrs were selling hybrids and EVs to the world these ***** on wall street would try to sap that for a ride too. Parasites.
- RadiatedAnt, on 10/06/2008, -2/+7it it would
:( - bbqribs, on 10/06/2008, -0/+5Keep in mind that there were a bunch of refineries taken offline by the hurricanes in the Gulf of Mexico. Refinery capacity was reduced significantly and caused some short term supply issues.
But yeah, we should be seeing much lower gas prices. Although some ***** in Iran are saying that everything will go to ***** if oil goes below $80. Hey, the Middle East needs to keep funding those big ass buildings in Dubai, right? - Rhendal, on 10/06/2008, -0/+5It's uh...called supply and demand. When we demand more gas, it gets expensive. When we don't demand as much gas, it gets cheaper. I don't see how that doesn't make sense, it's basic economics.
- Kronos6948, on 10/06/2008, -0/+5Spock's for sale? That's not logical.
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