[AFPhys]

Already, here, fuel prices have dropped 5% since their highs last week. I suspect they'll be down another 10% by two weeks. After that, I won't expect more than about a 10% drop during the subsequent three months. I'd expect $1.80-1.90/gal futures during the next three weeks, then lower after that.

From http://www.wtrg.com/daily/gasolineprice.html



Crude oil shows a similar drop already. I guarantee that many speculators have lost their shirts over the last couple days.

[prairiebreeze]

I guarantee that many speculators have lost their shirts over the last couple days.

Mr. Prairie says many times an event such as this is what forces the high into the market and lower prices then follow. He says the public money showed up in the gas/oil market and the smart money was more than happy to sell out to the public.

We did see the pumps are a bit lower here, when we went out this afternoon.