They just keep sticking it to us

[2Bad4Ya]

Crude oil prices have been falling for 3 weeks, I think a barrel is down to 122ish now. However has anyone seen any change at the pumps? I think someone on here said it before, "the gas co's figured out the american consumer breaking point... 4.00 gal, and future prices will stay near that mark even if crude oil drops".

A recent panel determined that we are over paying by 40% the corrrect price. Someone on the radio said in russia/former russia states that they were paying under 1.00 or something?

I hope that bubble pops pops soon on crude oil!

[67 455 Bird ragtop]

You really think prices at the pump will fall as fast as the price on the market ???

[2Bad4Ya]

Around my location prices are usually very quick to move based on crude oil. I dunno why but it also has been that way, perhaps cause we have a large east coast oil reserve depot here.

[James OLC]

Two things to consider here and now (1) gasoline prices will almost never drop on a Tuesday or Wednesday - storage reports come out Wednesday and they will largely influence how the analysts price things for the future and (2) one of the problems with dependance on imports is there is and will be a lag depending on location.

For instance, over the last week the spot price of refined gasoline dropped 4 cents in New York, rose 3 cents on the Gulf Coast, and rose 16 cents in Los Angeles. Three different ports - three entirely different costs.

On top of that, despite all of the commentary about people not driving, demand is up that will keep prices higher. They could retreat to $3.86 or so over the next couple of weeks but we'll see.

[6'9"Witha69]

You will see consumer prices rise the second crude does, but it will not follow the same descent rate as crude.

[2Bad4Ya]

Well just when I had some hope of things getting better!

Because the dollar took another hit in response to comments by European Central Bank President Jean-Claude Trichet suggesting the bank could raise interest rates, the price of oil jumps back up to 128 barrell.

[James OLC]

From todays storage report:


June 4, 2008 - 10:46 a.m.
WASHINGTON (AP) - Crude-oil inventories fell unexpectedly last week for the third straight period, according to government data released Wednesday.

For the week ended May 30, crude-oil inventories fell by 4.8 million barrels, or 1.5 percent, to 306.8 million barrels — 11.8 percent below year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.

Obviously consumption hasn't dropped significantly. Refinary throughput is up a couple of percent. Welcome to high summer demand.

[Jim Nilsen]

When the price went to $3 and then went back down to $2.75 and we went right back to Driving the way we always did they know where the new happy point is and where the shutdown point is.

That being the gauge for them I think we will see prices drop starting in August and go to $2.75 on election day and then go to $5 as qwick as they can. How we all vote these days has a lot to do with how we feel for the average person, and we are not average people here. So we'll see if it happens ,it has before and they are getting better at it everyday.

Just keep repeating to yourself : Must sell gas guzzler ,over and over again LOL That's what they really want !!!!

[6'9"Witha69]

When the price went to $3 and then went back down to $2.75 and we went right back to Driving the way we always did they know where the new happy point is and where the shutdown point is.

That being the gauge for them I think we will see prices drop starting in August and go to $2.75 on election day and then go to $5 as qwick as they can. How we all vote these days has a lot to do with how we feel for the average person, and we are not average people here. So we'll see if it happens ,it has before and they are getting better at it everyday.

Just keep repeating to yourself : Must sell gas guzzler ,over and over again LOL That's what they really want !!!!Agreed 100%.

[Fesler built]

Also keep in mind the stations dont drop till they buy the next load at discounted prices and they are out of what they spend on the higher gas.

Dont think because oil cost drop that gas will untill we the people tell our government what we think it will never change, lower the taxes lower the cost of gas. Very simple and easy to do could all be solved in a day. GREED my friend is what drives this country

[Yelcamino]

GREED my friend is what drives this country

You got that right!

[Mr.VENGEANCE]

get your axes and mohawks ready..

https://static1.pt-content.com/images/noimg.gif

and in Tonys case.. your goalies mask.

https://static1.pt-content.com/images/pt/2008/06/Humungous-1.jpg

hahahaha

[TonyL]

People have already resorted to stealing whole semi loads of fuel. The only mistake the guy made was selling it to the public for 2 bucks a gallon. He should have parked that trailer in a barn and told NO ONE.

[bigvegan]

2Bad4Ya:

Man, you've sure got some influence.

Those oil guys took your point to heart, realized you were right, and jacked the prices on crude in their single greatest one day leap ever to $139 a barrel, so the prices at the pump will be in line with the price per barrel. http://www.breitbart.com/article.php?id=D914R9VG0&show_article=1

I took my bicycle out of storage the other day. If I can find a place to shower, I may have to start riding to work.

Too bad those oil guys are killing the goose that lays the golden eggs. Americans are already buying less gasoline.

[Yelcamino]

I think it's time to get some locking gas caps for my cars that sit in the driveway.

[bigvegan]

I wonder how hard it would be to make a LOCKING billet gas cap?

[tumper93]

It doesn't matter if you buy a locking gas cap or not, people are already drilling and cutting holes in tanks with the locking caps and the new cars that won't allow a hose to go down the filling hose. I would rather loose the gas and diesel in my case than to have to buy a tank!! All you here is how much fuel China and a few other countries are using and that is driving up the price...great bill them for the excess and lower ours back down. I already drive only to and from work, 15 miles each way, and I can't cut it anymore and a bike is out over that distance. The other thing I think we should do is push everyone off our coast that are drilling oil and take over the rigs for the US and all the oil pulled from here use here and stop selling it to other countries.