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Crude oil down 10% in past week
Newsnationnow ^ | 06/20/2022 | Nick Smith

Posted on 06/20/2022 3:24:20 PM PDT by ChicagoConservative27

NewsNation) — There’s some good news when it comes to the price of gas, but it may take a while for drivers to see it.

Gasoline futures hit an all-time high on June 8 and have fallen steadily ever since — the price of crude oil has dropped 10 percent since last Monday.

Yet while companies are now paying 28 cents per gallon less, the nationwide average has increased by a penny since actual prices began to fall.

(Excerpt) Read more at newsnationnow.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Your Opinion/Questions
KEYWORDS: brentisat113; crude; down; energyschadenfreude; oil; week
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To: ChicagoConservative27

Good news...
Gas at the pump will plummet by 0.001 percent...
Hooray!


21 posted on 06/20/2022 5:50:09 PM PDT by SuperLuminal
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To: ChicagoConservative27

Why do prices go up right away, but then take weeks to go down?


22 posted on 06/20/2022 5:55:44 PM PDT by Fido969 (45 is Superman! )
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To: ChicagoConservative27

Biden probably released more oil from the Strategic Petroleum Reserve.


23 posted on 06/20/2022 7:58:00 PM PDT by mass55th ("Courage is being scared to death, but saddling up anyway." ~~ John Wayne )
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To: ChicagoConservative27

People were outraged when it got to $3.50 per gallon. Now if it goes back down to that Biden (and of course the media) will spin it as a huge victory of his policies that we have returned to “low” gas prices.


24 posted on 06/20/2022 7:59:30 PM PDT by Republican Wildcat
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To: ChicagoConservative27
Looking at the Crude Oil future charts its been trending up ever since November of 2020. No guarantee this retracement will be changing this trend anymore than the several before it.

November 2020...hmmm, what could have happened then to start such a trend upward in oil futures? Gosh, I don't know. Somebody help me out..../s

25 posted on 06/20/2022 8:11:50 PM PDT by AndyTheBear
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To: tomkat

“Plummeting demand from folks too broke to go anywhere”<————What he said.


26 posted on 06/20/2022 8:13:33 PM PDT by moehoward (.)
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To: HighSierra5

Call off the cheerleaders! Until gas prices fall below $2 a gallon, Biden is still a destroyer of the United States.


27 posted on 06/21/2022 4:33:48 AM PDT by Machavelli (True God)
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