It’s due to the the problems in Greece etc. It is NOT a good sign.
Hopefully it will be down more over the summer - borrowing the folks’ motorhome. At 6.5 MPG, any drop in price is a good thing.
Dang, I just got awarded over $100,000 in manufactured equipment. By the time it ships I’m sure it will go up.
Double face palm!
Also, it is due to a stronger US dollar.
People are selling EURO’S and buying US treasury bonds.
Investors also fear(fear and greed drive ALL markets) that there is not another TRILLION dollars to throw at the market to support it again.
Basically, the $HiT is hitting the fan.
High oil prices are typically a sign of economic growth.
Ain’t much of that lately.
Gold, Silver, Platinum, Palladium, and grain prices are all down today. Platinum and Palladium have dropped 10% in the last couple days.
Errrr... crude oil is bought on a futures market. Gas prices don't go up and down with crude prices at the same time.
World-wide depression... India and china are not using it as much as they were.
LLS
most of it is the stronger dollar yes
keep in mind the Euro lost nearly 20 cents in the past two months that is significant
also there is a worry about overall demand in Europe for oil and i think our supplies are higher thany they thought
as for the price at the pump most likely the long weekend coming up, a bit of gouging and the fact that a lot of these guys probably bought the gas a month or two ago and havent used those up to order more yet
Good.
Keep going lower.
I have to purchase 600 gallons of home heating oil for the winter.
Oil is a GLOBAL market. The Global economy is in worse shape than the US, so oil usage is down.
It’s due to low demand and large supplies.