Friday, July 23, 2010

How far have oil prices dropped around you in the last month??

Over $.50 here. I do not ever remember it dropping that much in Sept. Have you, or is this economic forces just an excuse to snuggle up b4 elections.How far have oil prices dropped around you in the last month??
around $1.00- i am not kidding. it was $3.15 last month and now its about $2.15 i've even seen it for 2.06How far have oil prices dropped around you in the last month??
Here they have kept creeping UP. And UP. And UP. andupandupandupandupandup!!!!!!!!!!!!!!
45 cents
about the same here...west PA
I think it's naive to think that the price of gasoline rises or falls because of an election. The price is tied to the futures pricing on global commodity exchanges and has to do with the global situation and market. The price was high in early summer because a) the hurricane season was upon us (and we all know what Katrina did to oil production and prices) and b) sabre rattling from Iran re nuclear fuels and bomb making material. If you check the price of an energy fund like the Vanguard Energy Admiral Fund you'll see that the funds rise and fall in lock step with the commodity even though they're based on the underlying corporations, not their product. The better question to ask is this: Why does the price of gasoline go up when the futures price of oil rises when that gasoline was refined and shipped months ago? If I bought yarn a year ago for $10 and made a sweater to sell for $30, would I raise the price of the sweater every day because the price of yarn was going up? I don't think so; people would do without sweaters. So, my friend, why haven't people stopped using gasoline or bought more fuel efficient cars? So, no - the election is not the reason the price of gas is falling, it's the economics of the market place and we're part of the problem. After all, isn't Summer driving season over - gasoline goes down in price this time of year every year - check it out for yourself.
$2.41 for a gallon of regular gas in Forest City , NC..................17 miles south into Chesnee , SC it is $1.99 for a gallon of regular ??? So in my town in NC , gas has dropped 60 cents a gallon in less than 5 weeks.....Nothing to do with politics !!! Vacations are over , kids back in school , less road time means a drop in demand for gas !!!

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