$105 oil

[njlou]

WOW!! what a moral dilemma.
We need lower fuel prices for transportation, but more importantly for heating. At this point the prices are killing us.
The reason we need lower prices is hopefully to get us over the hump until we can replace our older equipment for high efficiency units. Yet we can't really justify getting lower prices just so that we can begin a new wave of waste.
Either way we are 100% class A "*^$#@!". It's the golden rule:"those with the gold rule". BTW if our cars all got 200mpg, gas would be $40/gal.

[Peakster]

All prices seem to be going up. Home heating, food, gasoline, housing prices (at least here), etc. It certainly seems like a significant inflationary period right now. The biggest compaint overheard at work is the $10/day parking charge downtown. That's a lot of money when people bring home less than $100/day after taxes.

The only prices that are going down are home electronics. Big whoop.

[echomodder]

Looks like this thead is going to end up where it started. Right now at 107.90.

[AndrewJ]

Originally Posted by echomodder

Looks like this thead is going to end up where it started. Right now at 107.90.

Don't dispair, It'll soon be back up into the stratosphere. Remember, home heating oil deliveries haven't started in earnest yet.

Plus there's always next Memorial day....

[Lazarus]

There also an election about to happen that should keep prices down.

[Chris D.]

Originally Posted by echomodder

Looks like this thead is going to end up where it started. Right now at 107.90.

notice gas prices aren't really changing too much..

Originally Posted by AndrewJ

Don't dispair, It'll soon be back up into the stratosphere. Remember, home heating oil deliveries haven't started in earnest yet.

Plus there's always next Memorial day....

yup, soon after, WHAMMO, $5/gallon..

[igo]

I would have never though oil would go so low last month. Remember oil and gas prices are still up from last year at this time.

My long term price prediction is gas will not go below $3.20 a gallon during the winter and next summer gasoline will be around $5. I have no idea what oil will be doing at that time.

[dcb]

Wow, $96.36 a barrel. Interesting day today

[ankit]

Originally Posted by dcb

Wow, $96.36 a barrel. Interesting day today

Yet the gas station's aren't getting the fuel for much cheaper. In addition to this, the south east still has fuel shortages where rationing may be needed to stretch the supply.

Don't know what is going on.

[dremd]

Originally Posted by ankit

Don't know what is going on.

I don't KNOW what is going on either; but I can speculate :-)


Price of oil was over inflated by speculation, My belief is that crude should land around $120/ barrel. Bubble has burst, is in crash right now.

Refiners were squeezed very hard by poor crack spread, we are paying them back right now.

I'd be amazed if there will be much gas rationing going on in an election year unless the oil companies favorite party has something to gain from that.