http://money.cnn.com/data/commodities/index.html
Speculation on how far oil prices will tumble along with gasoline prices
Oil is on the verge to going below 80 dollars a barrel and gas prices here in my city were almost below 2.80 yesterday. (it was over 3.90 less then a month ago)
Your thoughts, a good thing (cheaper gas), or bad thing (doesn’t help if you lose your job or lose money)? How much farther will oil and gas prices drop?
Here in Western NC we have the highest priced gas in the country! It’s $3.659 a gallon… at least at the few stations that actually HAVE gas to sell… most are out. Right after the hurricane the price was around $4.50 a gal.
They want every cent, don’t they!:no:
Depends on consumers, if demand goes down so will prices. I imagine SUV sales will start increasing again, and so will gas prices.
Gas costs more than beer.
Drink…Don’t Drive
Hi,
I don’t think we’ll ever have petrol priced that cheaply! Round us it’s just dropped to £1.10 per litre ($8.51 per gallon).
Ha, that’s real cheap! But don’t your cars get like 80000 mpg?
it’s dropped about 50cents per gallon here in CO!
It dropped another 4 cents here today, our gas is over a dollar cheaper then a month ago, Wichita tends to see some of the lower prices in the country.
$2.45 in Eagle Rock MO.
However it will rise agian dramaticly because OPEC is going to cut production, fill up before it get’s crazy.
-Jimmy
The oil sheiks really don’t want their profits to really drop do they?
I don’t feel much sympathy for those oil billionaires.
Demand is going to start outstripping supply soon enough, and prices are going to skyrocket. The only reason prices are going down right now is due to the falling cost of oil, and that’s only due to the overall selling attitude in the market right now. Once inflation sinks in and supply starts running low, the price of oil will be launched into the stratosphere and gas will follow suit.
Once that happens you will see how much it really costs to be entirely dependent on oil as both a source of energy and a source of goods.
The real problem in a year or two won’t actually be the cost of oil, but the lack of supply. So many countries have such an exponential growth of oil consumption that even countries that supply us with a large percentage of our foreign oil are starting to get close to the point where their supplies won’t even cover their own demands.
What happens when the countries who supply the majority of our oil to us are no longer able to afford to export their oil?
Let’s hope the state legislators burn the midnight oil to prevent more SUV’s from hitting the road. The safety factor of the SUV vs the environment costs ?
Like I said before, OPEC is going to be cutting down on production soon.
That will makes prices skyrocket, so get it while it lasts.
-Jimmy
Hey Jimmy - you need one more post to hit the 2k mark (again!).
Well stay away from the SUV’s and other controversial topics for a while. Good luck on your 2k mark.
How is an SUV a controversial topic?
Hey Jimmy - congratulations on your 2k mark. Yeah I made a grammer error in that last post. I’ll correct it.
“Well stay away from the SUV’s and controversial topics for a while. Good luck on your 2k mark.”
Hopefully this will put you on the money.
Wow Kbot, you must not like economics as much as SUVs. Since more people are driving vehicles that use twice the fuel to go the same distance as other vehicles, demand is increasing, and is making oil “scarce” so to speak, and prices go up. When gas was over $4 a gallon, what did people do? Drove less, started to buy more fuel efficient vehicles, so demand went down, and so did prices, just like in the 70’s. It’s pretty simple. If everyone started driving super efficient vehicles we would be putting less money into the pockets of billionaire oil tycoons too. The issue of safety and SUVs can be reserved for another topic.
Money? Are you saying someone is going to give me money?
@ sausages
Thanks for the lesson in economics 101. Will be sure to keep that on board for my future reference.
& @jackblack - glad you didn’t flame me there (I nearly didn’t click again & to be honest I probably would have pounced on a slip-up like that)
& to keep this post on topic I’ll think of some thing more in line of CD’s orginal post. Umm Umm - oil from the ground isn’t infinite so it will run out eventually if people try really hard and therefore’s not sustainable. So There!