[shrinkermd]

More to this story than meets the eye. Not just a hurricane but many other factors are helping depress speculation to the upside.

[redgolum]

That and some of the futures contracts are coming do.

[sam_paine]

as Tropical Storm Ernesto veered away from the oil and gas region of the Gulf of Mexico,

Well, it doesn't have to be that way. If the libs would let us drill out there, too....

[B Knotts]

The air is finally leaking out of the oil bubble.

[Grampa Dave]

Gas prices in this part of N California in many stations during the weekend went down to $2.95/gallon for unleaded.

The prices have been over $3/gallon for about 2 months.

[Eagles Talon IV]

Gasoline prices were set to drop anyway due to the end of the driving season. This will further depress the price of a gallon of gasoline.

Lower gasoline prices will cause great distress among the libs.

[akorahil]

Oh my god!
A glut of gasoline hitting US markets, and Bush does NOTHING to stop this!
This will drive some gas stations out of business, as they won't be able to make enough profit!
This means more evil SUVs will be bought to burn up this environment destroying item!

BUSH'S FAULT!!

The above was brought to you by Akorahil's sarcasm. Sarcasm-when just bringing up a point isn't poignant enough.

[AbeKrieger]

Now would be a good time to lock in your home heating oil rates for the coming winter. Not gonna get much lower this time around...

[dinoparty]

This is not what the Dems need as we approach November!

[pissant]

Kerry's fault. LOL

[RightWhale]

But, incomes are up for the first time in six years.

What does it mean?

[ButThreeLeftsDo]

Watch that Natural Gas, as well....

http://www2.barchart.com/mktcom.asp

[Redcloak]

It's Bush's fault!

[rockinonritalin]

I have a question: Oil prices are rising on tighter supply versus a rising demand, but also on a speculative fear of even further threats to the supply (e.g. hurricaines, terrorism, pipelines, etc.). Meanwhile, consumers are somewhat quietly reducing their own gas consumption in response to the higher price at the pumps. (Or are they?) What is the possibility that there will be a convergence of the high speculative price and the sudden realization that demand has tailed off considerably resulting in a "correction" in the oil market? How much of a potential correction is there in the current price?

I realize that this question considers only the demand coming from the US consumer and does not consider demand from emerging markets, like China, which may still increase despite the rising prices. Thoughts?

[Peach]

Using my Kroger card I can get gas for $249. Not that the media will ever admit that prices have come down.

[VeniVidiVici]

Off topic but has anyone noticed that Mobil has started to change their price spread on regular to super? My local station was charging a .32/gal difference today.

Twenty a gallon is a rip. Thirty-two cents is thrust the blade in a turn.

[SMM48]

Oil Prices Drop Below $70 a Barrel

Everyone! On the count of 3........1.......2.........3

awwwwwwwwwwwwwwwwwwwwwwww

[spanalot]

Putie got a spanking in 2004 for F'ing with Ukraine and oil went down to $36 in December.

I think he needs another spanking for gang F'ing with Syria and Iran.

[staytrue]

People are buying small cars and ditching their trucks.

People who need trucks are buying these used trucks instead of new.

[SunkenCiv]

By Christmas the price will have dropped to $67. ;')

DRILL THE ANWR!

[rightinthemiddle]

Now we know what the lead story WON'T be on the MSM Evening News.