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11/17/2008 04:45:25 AM · #1 |
| Has anyone noticed gas prices have dropped by half in the US? We always hear when they are rising. But I've not heard a thing about the 50 percent drop in the last few months. Just wondering if anyone else noticed. Now you may return to your regularly scheduled programming already in progress. (Had this been an actual emergency you would have been instructed to stick your head between your legs and kiss your arse goodbye!) |
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11/17/2008 04:54:05 AM · #2 |
Petrol prices in Australia have dropped significantly recently too. Not quite by half, but by a fair amount.
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11/17/2008 05:11:19 AM · #3 |
meh it's not big news because it is a continual reminder of how poorly the world, and U.S. economy is doing right now.
Evan
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11/17/2008 06:04:47 AM · #4 |
More than half around here......it was up to $4.39/9 and I just filled on Thursday at $1.83/9.
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11/17/2008 07:40:25 AM · #5 |
Down to $1.76 around here... up and down a little depending on where you go.
Message edited by author 2008-11-17 07:40:34.
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11/17/2008 07:42:34 AM · #6 |
What I'm surprised about it is, the fact that we arent hearing people complain that the prices are taking so long to drop, when they are so quick to rise. Crude oil is dropping alot faster then the price of gasoline at the pump now. But when crude oil went up it sky rockets the same day or next day. It went up $0.50 cents at a time, but falls pennies a day. OH well I'm just glad to put the $14 in gas for last weeks commute rather then the $30 it had been costing me.
Matt
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11/17/2008 07:47:17 AM · #7 |
| I wish heating oil would follow! They know winter is coming (or already here for some), and refuse to drop prices when they stand to make a huge profit. |
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11/17/2008 08:26:10 AM · #8 |
My understanding is that it is not good news?
Is the price drop fueled by the recession/depression ?
:-/
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11/17/2008 08:40:20 AM · #9 |
Originally posted by Strikeslip:
My understanding is that it is not good news?
Is the price drop fueled by the recession/depression ?
:-/ |
Here is my take on this Slippy,
The prices of gasoline has gone down because of the bank crisis. In my opinion the price of gasoline went up because of the traders and speculators that created a false demand of petroleum. Most of these trades where done on margin since almost all of them had no intention of buying the product they were bidding on. Most did it in hopes that the price would go up and then sell.
Now, the banks are low on cash and are not loaning money as freely as before. This affects those traders and speculators because what they do is risky to the banks. And since the banks are not lending them money they cannot do their trades. Therefore the prices of petroleum has gone down because that demand that was there before has suddenly come to a stop.
What surprises me, is how easily it is accepted the BS we are given for the story on this. Something fishy went on when the price skyrocket and something is definitely wrong when the price down spirals. It is obvious that something shady happened in that market. And yet nothing is done about it. I think it needs to be regulated requiring most traders to put down at least half of their transaction cost and then the other half when the goods are delivered.
This would prevent those weasels who are looking to make money by trading goods with no intentions of buying. That affects everyone except the ass who is making the transaction. |
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11/17/2008 09:42:29 AM · #10 |
Originally posted by Kelli:
I wish heating oil would follow! They know winter is coming (or already here for some), and refuse to drop prices when they stand to make a huge profit. |
The problem with heating oil (this goes for natural gas too) is that many suppliers to the home market signed purchase agreements to buy their supplies in advance at a then low price, assuming that the price was more likely to rise than fall. Since they can't get out of those agreements, they pass that cost on to you. It's a gamble they take every year, sometimes it pays off and other times it seems like a loser. |
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11/17/2008 10:10:35 AM · #11 |
Wait, the forces are working to get them back to where they were so all those rich oil dudes could keep on putting gas in their 40 million dollar yachts. If I had the means, I would stock pile it... ;\
Now that the price of gas has gone back to where it's supposed to be I wonder if EVERY SINGLE COMPANY that hiked their prices will bring them back to what they were. I'm holding my breath here....yeah right. lol |
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