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Posted on 04/07/2026 10:39:02 PM PDT by CondoleezzaProtege
News of the temporary ceasefire between the United States and Iran immediately sent oil prices tumbling. Within minutes of President Donald Trump announcing an agreement had been reached, crude oil prices had fallen below the $100 mark.
About an hour after the announcement, the price of oil had dipped all the way into the $91/barrel range before working its way back up. As of 9 p.m., crude oil was trading around $97/barrel, which was still a $20 drop from its intraday-high.
The big question that will be on the minds of drivers will be whether this decline, if it holds for any amount of time, will translate into any relief at the pump. While gas prices have a long way to go to reach their pre-war levels, AAA numbers show they still rose another 14 cents per gallon in the past week, a period that roughly coincides with this latest surge.
On Tuesday evening, Trump announced the U.S. would suspend attacks on Iran for two weeks. As part of the ceasefire deal, Iran agreed to a complete reopening of the Strait of Hormuz, one of the world’s most important shipping lanes, during that time. Trump also indicated that the U.S. has received a 10-point peace plan from Iran and that it offered a workable basis for a long-term deal.
(Excerpt) Read more at livenowfox.com ...
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DemonicRATS, Trump Haters, Sunshine MAGA Patriots, Fake News Media, Clickbait Podcasters, Megyn Kelly, Tuckiyya Qatarlson, Joe Kent, The View hardest hit.
Not that confident that Iran will actually stop taking pot shots at ships in the straight.
So, gas prices drop seventy-five cents a gallon tomorrow?
After all, as one person here scolded me, “they set the price based on their next purchase.” If not then some CEOs and boards of oil companies need to be publicly beaten.
The best argument for electric cars and mass transit is oil companies price gouging in time of emergency.
We need both electric & gas. On that note: Elon Musk has been silent re: all this hoopla. (He did activate Starlink though for Iranian civilians.) Good on him.
TO under $100. Oil prices plummet TO under $100! Say your damn prepositions!
On that note, Starlink has been a huge boon for our military in terms of electronic warfare and real time enemy positions—both for Ukraine against Russia and our forces against Iran....and Musk is making a ton with military contracts as a result.
And we can see gas prices plummet tomorrow, too.
Right?
RIGHT??????
It costs American about $60 dollars a barrel to
make a useable product. People have to get paid.
a Profit of 10% is very fair.
In my view $100 per barrel is a rip off.
Oil is NOT a FREE Market item!
It is entirely political.
Average tanker carries 2 million barrels - so one dollar per barrel
The Oil futures market is still open and it has been around $95 since the rapid half hour drop. Not sure if this sideways movement in price will break up or down next...but I doubt it will have a fast drop like it did upon the announcement unless there is some other major news event that influences it.
I will sure enjoy diesel half price what it was a few months ago. But still willing to spend a few bucks more so an insane muzzie s hole isn’t sending a nuke to my neighborhood
You've never owned a service station have you. The margin on selling gasoline amounts to fewer pennies than you have fingers on one hand. You're not going to sell the gas sitting under your pumps that you purchased from the supplier at the higher price at a loss.
The ‘Mother of All’ stock market rallies today !
Probably going to be a short window of time to fill your gas tank...prices will come down somewhat in the short term, but the 2-week ceasefire negotiation is going to be tough (Iran’s “10-point” vs. PDJT’s “15-point”):
https://x.com/mdubowitz/status/2041689980171645261?s=20
Ok EEYORE.
Right you know that is true.
My gut feeling is it is most areas of the country it is going to go down slowly and here is the reason behind that.
One: most gas stations now are convenience stores and they make most of their money on the sales on the inside of the store, and the bigger the store the more money they make.
Two: My gut feeling is most of these Convenience stores are own by Foreigners and and they will keep their prices high. My gut feeling is when they move any of their profits to their foreign counties like India and the Middle East because of Trump their currency has took a big hit because of Trump and because of this their keep their profit margin they are a little slower in dropping their prices of gas because well they don't make most of their money from gas, they make most of their money from people buying their over priced good and food inside their story. Americans are mostly impulse buyers, they buy on the run. They should call these big stations, fast food gas stations. Now I'm not sure my reasoning is correct, if you think my reasoning is wrong please correct me.
If they raise prices the HOUR that oil prices go up then they can lower them the hour they go down. They can’t ethically have it both ways. If they can’t lower prices instantly then they don’t have to raise them instantly either. After all the next time they order the stock will be cheaper. If they don’t like the profit margin then sell something else.
This is war time profiteering, a war crime.
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