Comments on: Oil Prices Plunge to Below $70 per Barrel http://ecomodder.com/blog/oil-prices-plunge-70-barrel/ Wrench smart - driver smarter - save fuel Fri, 18 Nov 2011 08:51:49 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: James http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3591 James Fri, 05 Dec 2008 17:24:25 +0000 http://ecomodder.com/blog/?p=437#comment-3591 its all relative to profits....of course the price isn't reflected at the pump right away when it goes down - becuase the stations need to make as much profit as they can. And when the price goes up, the stations go up imiedately to capture AS MUCH profit as they can as fast as they can. its all relative to profits….of course the price isn’t reflected at the pump right away when it goes down – becuase the stations need to make as much profit as they can. And when the price goes up, the stations go up imiedately to capture AS MUCH profit as they can as fast as they can.

]]> By: cokids http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3376 cokids Tue, 11 Nov 2008 22:39:58 +0000 http://ecomodder.com/blog/?p=437#comment-3376 Yup, what would you like to bet that the price at the pump would jump within hours of an increase in barrel price!! Sure it takes time for the lower prices to work their way down, but if the price goes up, will it take the same amount of time? NOT!! Yup, what would you like to bet that the price at the pump would jump within hours of an increase in barrel price!! Sure it takes time for the lower prices to work their way down, but if the price goes up, will it take the same amount of time? NOT!!

]]> By: Bob http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3287 Bob Thu, 30 Oct 2008 05:21:34 +0000 http://ecomodder.com/blog/?p=437#comment-3287 I just think it's a total rip-off. As stated by some as soon as oil goes up the price at the pump goes with it. And other say it takes time for the higher priced gas to get out of the pipeline. Then the lower priced should continue to lower prices, even if oil goes up, for the lower prices gas would be in the line by then, so why doesn't it?? Think, oil companies like profit, and they have done well over the last 2 years. Going to give that up, NO WAY, so we pay the price, the consumer I just think it’s a total rip-off. As stated by some as soon as oil goes up the price at the pump goes with it. And other say it takes time for the higher priced gas to get out of the pipeline. Then the lower priced should continue to lower prices, even if oil goes up, for the lower prices gas would be in the line by then, so why doesn’t it?? Think, oil companies like profit, and they have done well over the last 2 years. Going to give that up, NO WAY, so we pay the price, the consumer

]]> By: joe http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3264 joe Mon, 27 Oct 2008 16:30:19 +0000 http://ecomodder.com/blog/?p=437#comment-3264 i try o understand your reasoning on this blog, but when historically prices of the barrel were at $80.00 the US national average was $2.02 a gallon please remember gas stations are fast at raising prices when barrel goes up, they forget your theory of a delayed affect. Dereguation is the fact that all has gone wrong in the US. An economy with no set price on items is due to fail due to corruption. The Feds allowed the sub-prime fiasco to take place, now as usual the tax payers pay the price, lets bail them out and by the way lets not forget to put some bonus money on the side for the execs and those congress boys who helped create this mess. Whom ever is elected this year as President of the U.S. is going to inherit a large deficit close to 11 trillions dollars paper money, uncontrollable corruption at all levels of business and government, just thinking of that would make most of us run away from that mundane post, would you agree. Lets not forget taking the Dow to 5,000 and starting all over again, Thank the boys at the SEC for letting short selling of the markets continue i try o understand your reasoning on this blog, but when historically prices of the barrel were at $80.00 the US national average was $2.02 a gallon
please remember gas stations are fast at raising prices when barrel goes up, they forget your theory of a delayed affect. Dereguation is the fact that all has gone wrong in the US. An economy with no set price on items is due to fail due to corruption. The Feds allowed the sub-prime fiasco to take place, now as usual the tax payers pay the price, lets bail them out and by the way lets not forget to put some bonus money on the side for the execs and those congress boys who helped create this mess. Whom ever is elected this year as President of the U.S. is going to inherit a large deficit close to 11 trillions dollars paper money, uncontrollable corruption at all levels of business and government, just thinking of that would make most of us run away from that mundane post, would you agree. Lets not forget taking the Dow to 5,000 and starting all over again, Thank the boys at the SEC for letting short selling of the markets continue

]]> By: Weekly Link Roundup VI | Hypermiling, Fuel Economy, and EcoModding News - EcoModder.com http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3204 Weekly Link Roundup VI | Hypermiling, Fuel Economy, and EcoModding News - EcoModder.com Sat, 18 Oct 2008 16:14:09 +0000 http://ecomodder.com/blog/?p=437#comment-3204 [...] Oil Prices Plunge Below $70: Be it a good or a bad thing, it definitely reflects how volatile the world petroleum markets have been this year. [...] [...] Oil Prices Plunge Below $70: Be it a good or a bad thing, it definitely reflects how volatile the world petroleum markets have been this year. [...]

]]> By: Bart http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3203 Bart Sat, 18 Oct 2008 14:46:59 +0000 http://ecomodder.com/blog/?p=437#comment-3203 The last time gas was 70.00 a barrel, how much was a gallon of gas, are they the same now? The last time gas was 70.00 a barrel, how much was a gallon of gas, are they the same now?

]]> By: Tim in Colorado http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3200 Tim in Colorado Sat, 18 Oct 2008 03:01:10 +0000 http://ecomodder.com/blog/?p=437#comment-3200 Over a year ago, I told most of my family and friends to watch and see that gasoline prices will fall right before the Presidential election because they want the public to forget about the high gas prices and not to make them a main topic of the candidates. And guess what, I haven't seen much news coverage about the low gasoline prices. But just months ago all I saw on the news was coverage about how high the gasoline prices were. Boy, I'm so surprised! And since EVERY SINGLE CANDIDATE is primarily funded by oil companies, they play along just perfectly...what good little puppets. Over a year ago, I told most of my family and friends to watch and see that gasoline prices will fall right before the Presidential election because they want the public to forget about the high gas prices and not to make them a main topic of the candidates. And guess what, I haven’t seen much news coverage about the low gasoline prices. But just months ago all I saw on the news was coverage about how high the gasoline prices were. Boy, I’m so surprised! And since EVERY SINGLE CANDIDATE is primarily funded by oil companies, they play along just perfectly…what good little puppets.

]]> By: Oil Prices Plunge to Below $70 per Barrel - Political Wrinkles http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3195 Oil Prices Plunge to Below $70 per Barrel - Political Wrinkles Fri, 17 Oct 2008 08:32:31 +0000 http://ecomodder.com/blog/?p=437#comment-3195 [...] do you think something bigger is going on? If so, what? Let’s here what you think in the comments.Oil Prices Plunge to Below $70 per Barrel | Hypermiling, Fuel Economy, and EcoModding News – EcoModd… Economy is in the crapper. Oil prices dropping like crazy. Gas prices "amazingly" ( ) [...]

]]> By: Dan http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3188 Dan Fri, 17 Oct 2008 00:47:31 +0000 http://ecomodder.com/blog/?p=437#comment-3188 "Dick: you mentioned that it takes 90 days for lower oil prices to affect gas prices, but why is it that any rise in oil prices immediately affects gas prices? i call that gouging." I call it speculation. With any part of economics, it takes longer for the price to drop for an item, then it does to raise. Speculators run the markets. “Dick:

you mentioned that it takes 90 days for lower oil prices to affect gas prices, but why is it that any rise in oil prices immediately affects gas prices?

i call that gouging.”

I call it speculation. With any part of economics, it takes longer for the price to drop for an item, then it does to raise. Speculators run the markets.

]]> By: mopo3 http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3187 mopo3 Fri, 17 Oct 2008 00:36:34 +0000 http://ecomodder.com/blog/?p=437#comment-3187 here in Houston the gas cost $2.85 so I am seeing the drop in oil prices relative to gas prices. Having worked at a refinery I know that refiners make the products with the highest profit margin, diesel has a higher profit margin than gas so they want to make more of it. Also the price point for profitability on Canadian tar sand is when the price of sweet crude oil is ~$90 so with the dropping prices of oil you can expect OPEC to back off production to about the $90-100 range, if they lower there production to raise the price more then the tar sands production will increase, taking there slice of the pie, so they are limited on how much production they can cut. here in Houston the gas cost $2.85 so I am seeing the drop in oil prices relative to gas prices. Having worked at a refinery I know that refiners make the products with the highest profit margin, diesel has a higher profit margin than gas so they want to make more of it. Also the price point for profitability on Canadian tar sand is when the price of sweet crude oil is ~$90 so with the dropping prices of oil you can expect OPEC to back off production to about the $90-100 range, if they lower there production to raise the price more then the tar sands production will increase, taking there slice of the pie, so they are limited on how much production they can cut.

]]> By: Nick http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3186 Nick Thu, 16 Oct 2008 22:58:22 +0000 http://ecomodder.com/blog/?p=437#comment-3186 Lower oil barrel prices do influence gas prices around me, as gas at some stations is $2.81 (this was 3 days ago)... You have to love Jersey, it is illegal to pump our own gas, yet we have some of the cheapest gas in the nation Lower oil barrel prices do influence gas prices around me, as gas at some stations is $2.81 (this was 3 days ago)…

You have to love Jersey, it is illegal to pump our own gas, yet we have some of the cheapest gas in the nation

]]> By: Jiff Wright http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3184 Jiff Wright Thu, 16 Oct 2008 21:36:20 +0000 http://ecomodder.com/blog/?p=437#comment-3184 Gas at my local station an hour ago was $2.69 a gallon! Works for me! $40 fills up my tank again! Jiff Gas at my local station an hour ago was $2.69 a gallon! Works for me! $40 fills up my tank again!

Jiff

]]> By: Henry http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3183 Henry Thu, 16 Oct 2008 21:32:14 +0000 http://ecomodder.com/blog/?p=437#comment-3183 Dick: you mentioned that it takes 90 days for lower oil prices to affect gas prices, but why is it that any rise in oil prices immediately affects gas prices? i call that gouging. Dick:

you mentioned that it takes 90 days for lower oil prices to affect gas prices, but why is it that any rise in oil prices immediately affects gas prices?

i call that gouging.

]]> By: Josh http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3182 Josh Thu, 16 Oct 2008 21:11:10 +0000 http://ecomodder.com/blog/?p=437#comment-3182 Gas prices at the pump will continue to fall however they will be delayed a few weeks as "expensive gas" is still in the pipeline and must be used up first. Gas prices at the pump will continue to fall however they will be delayed a few weeks as “expensive gas” is still in the pipeline and must be used up first.

]]> By: Stu http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3181 Stu Thu, 16 Oct 2008 20:55:03 +0000 http://ecomodder.com/blog/?p=437#comment-3181 Gas station owners do it tough, whereas the oil companies have a global management strategy. Local or large scale, they all buffer prices to an extent. Gas station owners do it tough, whereas the oil companies have a global management strategy. Local or large scale, they all buffer prices to an extent.

]]> By: dorkdestroyer » Blog Archive » proof of gouging - just drive to your corner gas station http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3180 dorkdestroyer » Blog Archive » proof of gouging - just drive to your corner gas station Thu, 16 Oct 2008 20:12:13 +0000 http://ecomodder.com/blog/?p=437#comment-3180 [...] source [...] [...] source [...]

]]> By: Jordan http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3179 Jordan Thu, 16 Oct 2008 20:06:47 +0000 http://ecomodder.com/blog/?p=437#comment-3179 If it takes so long for the per barrel prices to be reflected in the pump prices, how come pump prices jump immediately when oil prices jump? Why do they jump in anticipation of weather events? 100% RIP OFF If it takes so long for the per barrel prices to be reflected in the pump prices, how come pump prices jump immediately when oil prices jump? Why do they jump in anticipation of weather events?

100% RIP OFF

]]> By: Daniel http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3178 Daniel Thu, 16 Oct 2008 19:50:28 +0000 http://ecomodder.com/blog/?p=437#comment-3178 As Ed explains, gas station owners are trying to making money by keeping their prices high. But the lowering price of oil is forcing prices at the pump down, just more slowly than the price of oil. According to Gasbuddy.com average prices have fallen 30 cents in a week and 80 cents in the last month. They will continue to fall as gas stations fight for customers. The rule of thumb with gas prices at the pump is that they rise like a rocket and fall like a feather. Gas station owners are just trying to make a few more cents a gallon. And one more thing, less than 10% of gas stations are owned by the major oil companies. Almost all are owned by smaller companies. As Ed explains, gas station owners are trying to making money by keeping their prices high. But the lowering price of oil is forcing prices at the pump down, just more slowly than the price of oil. According to Gasbuddy.com average prices have fallen 30 cents in a week and 80 cents in the last month. They will continue to fall as gas stations fight for customers.

The rule of thumb with gas prices at the pump is that they rise like a rocket and fall like a feather. Gas station owners are just trying to make a few more cents a gallon.

And one more thing, less than 10% of gas stations are owned by the major oil companies. Almost all are owned by smaller companies.

]]> By: Ed http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3176 Ed Thu, 16 Oct 2008 18:59:34 +0000 http://ecomodder.com/blog/?p=437#comment-3176 The problem is that the gas station franchise owner's don't want to lower prices below their costs. While the refiners and other market participants are marking down their spot prices, the price change movement through the supply chain takes more time. Ultimately the middlemen don't want to suffer losses, so they keep prices high to maintain their margins. When people just stop buying at such high prices all together, this will force the middlemen to suffer losses. The problem is that the gas station franchise owner’s don’t want to lower prices below their costs. While the refiners and other market participants are marking down their spot prices, the price change movement through the supply chain takes more time. Ultimately the middlemen don’t want to suffer losses, so they keep prices high to maintain their margins. When people just stop buying at such high prices all together, this will force the middlemen to suffer losses.

]]> By: real thinker http://ecomodder.com/blog/oil-prices-plunge-70-barrel/comment-page-1/#comment-3175 real thinker Thu, 16 Oct 2008 18:50:27 +0000 http://ecomodder.com/blog/?p=437#comment-3175 Ignorance continues. Oil companies have artificially held down gas prices for months now. Have you thought about the price of gas four years ago at $20 oil and how oil (the fuel stock for gas) was at one point 7 times as expensive? You did not see a 7x increase in gas. Also, oil bought today may not hit the oil refineries for 18 or more months. Oil processed today into gas was bought months ago. Don't be so dense, supply and demand are also culprits here. Ignorance continues. Oil companies have artificially held down gas prices for months now. Have you thought about the price of gas four years ago at $20 oil and how oil (the fuel stock for gas) was at one point 7 times as expensive? You did not see a 7x increase in gas. Also, oil bought today may not hit the oil refineries for 18 or more months. Oil processed today into gas was bought months ago. Don’t be so dense, supply and demand are also culprits here.

]]>