Crude oil at its lowest price in over 3 months!

[mrz28M6]

just heard it on the news, so how much will we see it go down?? first time its been under 4 bucks a gallon here in cali in ages!!:headbang

[kornholio788]

We were at 3.70 around here for a bit. We are at like 3.80-3.89 now. Hopefully the barrel price will stay down today and we will see it in prices.

[CobraSnake]

watch the prices will go up some how.

Mark

[flyin_blue_egg]

^^^^don't say that!!!

[Smokey1226]

Oil barrel Price is down another $1.5x currently which is huge. Which would make it $112.xx per barrel. Which is great news. Unfortunatly the stock index's havent been able to rally off of the weak barrel price just yet.



Also from what i know.....We have the cheapest Diesel price in the County :D and plan on going lower!

[mrz28M6]

who cares about diesel chad! lol how about those premium prices?? i wanna see 3 bucks even when i'm back next week. :)

[Smokey1226]

who cares about diesel chad! lol how about those premium prices?? i wanna see 3 bucks even when i'm back next week. :)

lol, im working my magic on it! Hopefully in the next few months we'll get close to that but i wouldnt hold my breath.

[05caddyext]

This is how it will go up :fire

http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/britain_georgia_pipeline;_ylt=AoHNGRXXG7ODPDVqeQkT MQas0NUE

[mrz28M6]

oh jeez i can only imagine! the good this is that russia has declared to stop war on georgia so hopefully they will re-open that pipeline??

[CobraSnake]

oh jeez i can only imagine! the good this is that russia has declared to stop war on georgia so hopefully they will re-open that pipeline??

BP said the 90,000-barrel-a-day pipeline to Supsa on Georgia's Black Sea coast from Baku in Azerbaijan will remain closed indefinitely.

[kornholio788]

This is how it will go up :fire

http://news.yahoo.com/s/ap/20080812/ap_on_bi_ge/britain_georgia_pipeline;_ylt=AoHNGRXXG7ODPDVqeQkT MQas0NUE

Damnit. Boom. There is another 30 cent price increase.

[VroomPshhTsi]

so one link (first post) says 90,000 bbl/day the other says (below) 900,000 bbl/day.... I'm guessing it's 900k

http://www.latimes.com/business/la-fi-gas12-2008aug12,0,2283158.story

[Smokey1226]

Hopefully that just effects BP's prices.

[Feature Pony]

yeah prices will never come back down we have had the lowest price on a barrels of oil for the past 2 weeks and gas only dropped 3 cents WTF. barrels could be $80 and we will still be paying $3.60 for gas. ok rant off.

[Smokey1226]

lol, not true but i agree with what your saying. As the Crude price comes down lower, the jump has to be greater to show effect. Meaning when it was $140/barrel a $5 drop would equate to .25cents drop. Now at $112/barrel to get the same .25cent drop barrel price has to go down $8-10/barrel.

at $85/barrel which i've got bets on we should see $3.05. It's not the best but i'll take it all day over $4.29/gallon that we seen not to long ago.

[Nix]

Where the fuk is Doc Brown when I need him?

I want him to build me a Mr. Fusion for both my cars. :(

Fuk throw in a couple flux capicatators (sp?) while your at it and get this fuker flying through time! :wow

[DirtyMax]

Hopefully that just effects BP's prices.

If BP raises their stuff, so will everyone else. They're all in cohoots at the end of the day anyways...

It isn't priced the same at the pumps as it was the last time oil was this price because they've found out that we still need to drive and they'd be leaving money on the table if they gave it all back.

How the hell else are they going to surpass the record profits for the 11ty billionth quarter in a row?!?!?

[Smokey1226]

If BP raises their stuff, so will everyone else. They're all in cohoots at the end of the day anyways...

It isn't priced the same at the pumps as it was the last time oil was this price because they've found out that we still need to drive and they'd be leaving money on the table if they gave it all back.

How the hell else are they going to surpass the record profits for the 11ty billionth quarter in a row?!?!?

Which is exactly why i said even at $85/barrel our pump price will probably still be slightly above $3.00/gallon

Of course from there its going to have days where it will drop below $3 and then there will be times when it goes above $3.50 but in the end it should settle around the $3/gallon mark.

[CobraSnake]

Which is exactly why i said even at $85/barrel our pump price will probably still be slightly above $3.00/gallon

Of course from there its going to have days where it will drop below $3 and then there will be times when it goes above $3.50 but in the end it should settle around the $3/gallon mark.

I hope your sources are correct. Although I just bought a nice car that I now I can't drive so I guess I don't give a shit either way.

Mark

[DirtyMax]

At the end of the day, it's a muthafawkin conspiracy...plain and simple.

No fault of yours as a station owner. You're just reselling something you're buying and you're getting buttfarked too.

[mrz28M6]

i agree jeremy! its all a scam!! when is congress gonna step in and make a law on how much profit these idiots can make!!!

[DirtyMax]

when is congress gonna step in and make a law on how much profit these idiots can make!!!

When the majority of them don't have a vested financial interest in the performance of that industry.

Short answer.. not likely. :(

[05caddyext]

when is congress gonna step in and make a law on how much profit these idiots can make!!!

You have heard of economics right? supply vs demand? WE control the price of oil. You don't think so? Then you are wrong. WE being the United States consumers. You want oil prices to drop? Drive less. Turn the heat down in your house in the winter. Turn off the stuff you aren't using when you aren't home or in the room. Its called competition. We continue to pay, they keep the price high. WE lower our usage, the price drops, its really that simple.

Its called competition. And it is legal in the U.S. In fact it is probably one of our most important "freedoms." Now you want a law on how much money a company can make? Wouldn't the much smarter idea to invest in oil companies???? If you have a 401k chances are you probably already have some portion of that invested in the oil business. Last time I checked, this was about as obvious as a sure bet could be for an investment.

[DirtyMax]

They're just one of the industries that practice cohesion (to an extent) versus killing one another with price slashing like every other industry in this nation does.

Guess til someone stops them, you can't blame them all for wanting to wipe their ass with $100 bills.

I don't have a problem with a company succeeding... however... when the only companies in the market that are consistently crushing their record profits quarter after quarter are oil companies, something stinks.

[Adam Brooks]

You have heard of economics right? supply vs demand? WE control the price of oil. You don't think so? Then you are wrong. WE being the United States consumers. You want oil prices to drop? Drive less. Turn the heat down in your house in the winter. Turn off the stuff you aren't using when you aren't home or in the room. Its called competition. We continue to pay, they keep the price high. WE lower our usage, the price drops, its really that simple.

Its called competition. And it is legal in the U.S. In fact it is probably one of our most important "freedoms." Now you want a law on how much money a company can make? Wouldn't the much smarter idea to invest in oil companies???? If you have a 401k chances are you probably already have some portion of that invested in the oil business. Last time I checked, this was about as obvious as a sure bet could be for an investment.

not entirely, the enron loophole still exists for all commodities in the commodities market which is/was allowing for price manipulation. In 2000 enron convinced the feds to deregulate commodities. This allow them to manipulate energy prices (artificial demand), then did all their rolling black outs etc (they literally just shut down power themselves, it wasn't caused by excessive demand).

anyway these markets were regulated to protect farmers from soaring/falling prices and made the movements slower. These were eliminated.

so in 2008 we now have investment banks, hedge funds etc buying oil futures bc of its out of hand price increase to make money. guess who suffers, us at the pump.

yes its economics and supply and demand however, the demand you are seeing in not from the consumer, its from the speculator.

OPEC has repeatedly stated oil should be priced near ~75 a barrel and the current prices cannot be sustained. Which is good to know so now you can short an etf and profit ont he way down.
http://stockcharts.com/c-sc/sc?s=USO&p=D&yr=1&mn=0&dy=0&i=t67193330728&r=5001

[GTSLOW]

$3.53-3.59 here in AZ for the past 4months.

[Adam Brooks]

another thing i forgot to mention about the loophole is that obviously oil companies dont want this closed. They're lobbyists are pouring TONS of money into the gov to keep this shit going.

so is it a conspiracy? nope, that's capitalism baby!