What's Up(Rather Down)With Gas Prices?

bbinacan

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Thu Jun-01-06 05:53 PM
Original message

What's Up(Rather Down)With Gas Prices?

Last week I paid $3.20 for premium. Two days a go I paid $2.96. BTW, I'm in Raleigh, NC. What the hell caused this?:wtf: :shrug:

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RebelDawg

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Thu Jun-01-06 05:53 PM
Response to Original message

1. supply and demand

economics 101.

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bbinacan

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Thu Jun-01-06 06:03 PM
Response to Reply #1

4. My degree is in Economics

so I understand supply and demand. BTW, welcome to DU.

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depakid

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Thu Jun-01-06 06:19 PM
Response to Reply #4

12. Peak oil models

Edited on Thu Jun-01-06 06:20 PM by depakid

all predict unstable prices and rapid- perhaps dramatic- fluctuations.

Demand is bumping up against supply and the world cannot produce more of the resource, so inventory levels and seasonal/regional demand have more dramatic effects on retail proces. Moreover, disruptions in the supply chain- or specualtion about if and when they'll happen, drives up the prices on the markets. Time was the Saudi Arabia could boost production to account for that and create some stbility.

Not anymore....

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unda cova brutha

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Thu Jun-01-06 05:55 PM
Response to Original message

2. gotta keep bushie and his oil buddies happy.

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Jeffersons Ghost

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Thu Jun-01-06 06:11 PM
Response to Reply #2

10. bushbot's black-gold buddies bounce prices back when their boy's in a bind

I used to buy when his polls dropped but even Big Oil has dumped the idiot these days. He's a disposable president to them.

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CatholicEdHead

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Thu Jun-01-06 05:56 PM
Response to Original message

3. Memorial Day weekend is over

so down they come

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bbinacan

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Thu Jun-01-06 06:05 PM
Response to Reply #3

6. That make sense, but

I was shocked at the size of the drop. Especially with oil hovering at $70. Maybe we have more refining capacity on line after retooling and recovering from the hurricanes.

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tridim

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Thu Jun-01-06 06:03 PM
Response to Original message

5. Psychological conditioning?

Price goes up, price goes down a little, price goes up more, price goes down a little, price goes up more.. and so on.

By 2008 Americans will believe that $3.50 gas is cheap, while Bush's oil buddies make more money than they ever dreamed.

Remember, gas was just a bit over $1.00 in 2000.

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aasleka

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Thu Jun-01-06 06:05 PM
Response to Reply #5

7. Bush is trying to raise poll numbers

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bbinacan

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Thu Jun-01-06 06:08 PM
Response to Reply #7

9. How?

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uppityperson

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Thu Jun-01-06 06:07 PM
Response to Original message

8. $3.15 last wk, $3.19 yesterday here

western WA

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TheCowsCameHome

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Thu Jun-01-06 06:19 PM
Response to Original message

11. November elections coming, plus no hurricanes in Idaho this week.

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