All I know is IM LOVIN’ IT!
No manufacturing, use is down, supply is up, prices are lower...This is NOT a good thing...
“but no change at the pump”
We’ve dropped 10 cents per gal in the past 10 days. Oil prices today actually reflect gas prices weeks to a month out.
Go to a different gas station. The price at the pump has been going down for the last two weeks.....
There is an approximate 2-3 week delay from the impact of the price per barrel.
As they say....
The price change takes a while to work it’s way through the pipleline.
Several factors at work: reduced average seasonal US gasoline demand (due to weak economic growth), higher-than-expected gasoline inventories as well as US crude oil reserves, and a stronger US dollar.
Obama and his Ebonomic Plan.
May is the month where refineries switch over to summer blends. This temporarily reduces gasoline inventories, even though oil inventories are plentiful and relatively cheap. This accounts for at least some of the increased cost of gasoline relative to the cost of crude.
As a manufacturer who serves many industries I can tell you, without hesitation, that THE ECONOMY IS SLOWING DOWN AGAIN.
Oil demand is dropping, and some of the speculators are getting squeezed into liquidating long positions.
Personally I think it is a reflection of a massive reduction in demand in the coming months to years. We are enterting a depression...
Prices have been going down at the pumps around here.
Maybe demand is cratering as the Obama depression widens?
Depression.
In fact, the economy is currently being ARTIFICIALLY STIMULATED by the approaching tax-rate increases on January 1st. Watch for crash on or before January 1st, as businesses and individuals cease economic activity that will no longer pay in 2011.
Mostly it is because the Euro is falling. The dirty secret is that even though the dollar is supposedly the official unit of price, it has been pegged to the Euro for awhile in reality.
From what I have read, including here on FR, refining capacity is at an all time low due to lower demand.
Gulf Seawater burns so much funkier but at a lower cost!
Oil and all other commodities are down. Someone posted an article yesterday that the commodities index 50 day moving average had fallen below the 200 day moving average.
That is extremely bearish for commodities in general. Therefore, commodity hedge funds are selling across the board whether it is oil , coppper , lumber or anything else.
Why the price at the pump is not down. They are ALWAYS slow to lower prices because they already paid for the product in the tank at the station. Their price on that is fixed. They are quicker to raise it because they only need to be the same price or slighhtly cheaper than their competion down the street. You are not going to drive 40 miles out of your way to save $.05/gallon.
Yes, obviously the dollar is one factor, because the weak dollar was propping up the price of oil. It was artificially inflated, anyway.