RBOB Gasoline also down $0.10 to $3.35.
My DIL was laughing yesterday. Gas at a local station dropped one penny. People just aren’t going to spend 4 dollars a gallon for gas unless they have to and what we buy we are stretching. I plan my route to conserve a much as I can. I used to fill up once a week. Now I’m making it last for two weeks.
“Oil drops $4 on surprise jump in supplies”
When this happens, it gives lie to Bambis’ argument that we can’t drill our way out of this crises. Of course we can. More supply and more refineries equal lower prices.
-$4.26 and falling.
I can’t trust these asswipes as far as I could throw them. Hey, did ya’ll hear that guy on Neal Boorz show today. Check out his website: shadetreeconversions.com
A real American hero in my book. IMO, there ain’t no going back now. The cat is out of the bag and even if gas went back down to $3.00 it won’t matter. People are so much more informed and will act accordingly and the American spirit will reign. These greedy manipulative corporations and the ME can go screw themselves, which they already have.
So, an 800K bbl increase drops oil by $4-5? Screw ANWR, right, Obie? It’s only a few cents, right?
I saw a chart a couple of weeks ago showing how much gasoline consumption had fallen the last 2 or 3 months. Can’t recall where. Can anyone lay their hands on it?
The oil chart sure looks like it’s rolling over.
We’ve been trading sideways in the $125-$135 zone for 6 weeks now. Today we’re at $133, no real change from the range.
Don’t know if this is “the bubble bursting” but watch what happens when large numbers of people stay home this Fourth of July Weekend, and BBQ on the backyard grill instead of traveling to relatives houses and going to the amusement parks. I wait to see what will happen *then*.
Can anyone say ‘VideoCam Visits’ and ‘Big Screen TV’ three times real fast?
Gee, kinda makes those Congresscritters saying drilling can do nothing to drop the price DAMNED LIARS, doesn’t it? WOULD ONE REPORTER - JUST ONE - HAVE THE STONES TO ASK ONE OF THESE LIBS “WELL, CONGRESSMAN / SENATOR, THEN HOW DO YOU EXPLAIN ...” Yes, I’m shouting.
The “long” money will bribe the thugs in Nigeria, there will be an “accident” at a refinery - an Israeli cabinet member will make loud noises towards Iran.....
I wager the news will hit before 1500.
Too much money is invested in stable or rising oil prices.
For all you people who think oil prices are the fault of speculators, I would point out that speculation is what ‘caused’ this drop.
No no no. Not supplies, SPECULATORS!!
The world burns about 85 million bpd. Does 1/1000 plus or minus at any time make any difference?
Just raise the margin requirement to 25% and oil will be bqck to $30 real quick!
It doesn’t matter. The price of gas will jump up-considerably-just before the fourth of July. I just don’t know what the excuse will be.