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Oil is down $16/bl. Yet gas prices haven't followed suit. You know what I have to say on this?

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Deja Q Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 07:32 AM
Original message
Oil is down $16/bl. Yet gas prices haven't followed suit. You know what I have to say on this?
SUV and Hummer owners are a bunch of whiny little wankers, who like to think gasoline grows on trees.

Or at least in cornfields... :crazy:

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KatyaR Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 07:36 AM
Response to Original message
1. Gas prices here dropped twenty cents yesterday,
alllllll the way down to $3.599.

But I'm sure it'll rebound next week.
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Callalily Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 07:38 AM
Response to Original message
2. Gas prices have dropped
here, but not significantly. I'm sure it'll only last a day or two again!
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 07:41 AM
Response to Original message
3. Whenever there is an "oil crisis", a new price level is achieved
Edited on Sun Jul-20-08 07:54 AM by mmonk
even in spite of decline in the prices of crude or immediate supply levels. The populace is conditioned to a higher price. It will always be taken advantage of. Naomi Klein calls it disaster capitalism.
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Historic NY Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 07:45 AM
Response to Original message
4. one place here went from 4.17 to 4.21 overnight....they're playing us.
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Kolesar Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 07:49 AM
Response to Original message
5. The new production in Iraq is designed to drive down the oil futures market
Buscheney arranged for BP, Shell, Total and Exxon to at least start pumping there in the short term. This will crash the commodities speculation in the oil futures market and cause the price of oil to fall and the price of gasoline to fall.

It is a gasoline price gimmick for the September/October election season.
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MuseRider Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:05 AM
Response to Original message
6. $4.89 here in most places still
but I did see one place that went down 20 cents.

If I did not now live where I work I would be a whiny little wanker too! :)

Diesel fuel, I don't know what the regular gas is.
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dems_rightnow Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:09 AM
Response to Original message
7. We got about a dime back
That's it.
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yellowdogintexas Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:11 AM
Response to Original message
8. not here, yet. In fact ours have gone up a few cents.
go figure
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Marrah_G Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:11 AM
Response to Original message
9. I paid 3.96 at Hess on the North Shore of Boston this morning
They are always about 10 cents lower then the average.
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KharmaTrain Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:15 AM
Response to Original message
10. Speculators Are Taking Their Profits...
I was looking at the calendar and thinking how interesting this timing is. The stock market has been in shitsville for months and was on an extended losing streak...wiping out value for many and hurting the speculation game. The market and values were falling faster than the price of oil was rising. So it was time to cool one and try to prop up the other. Note how quickly the market jumped over 250 points on the first drop and finished up for the week. I suspect we'll see this through the end of the month as money is shifted, temporarily, back into the markets, and then once the balance shifts back to making money off the speculation...you'll see the price rise again.

Also, the speculators are heading to "greener" pastures...food and other commodities that have gone up in prices as the cost to produce them have. There's a nicer return on an October call on Corn than on oil futures...especially when there's sure to be political pressure to lower prices to help Gramps in November.
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tyedyeto Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:24 AM
Response to Original message
11. 6 cents lower a few days ago n/t
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Jack_DeLeon Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:30 AM
Response to Original message
12. Asymmetric Price Transmission
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Deja Q Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:37 AM
Response to Reply #12
14. Sounds like the sort of technobabble they come up with in "Doctor Who".
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Thothmes Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-20-08 08:35 AM
Response to Original message
13. Dropped 9 cents per gallon yesterday in Tidewater Virginia
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