Getting close to $100

Okay, so at the risk of jinxing it, the price of a barrell of oil is creeping down closer $100. Do you think it will go below that? If so, when do you think?

I think it will, by October 2nd. We shall see...

I'd like to say mid-Sept, but I do not have any crystal ball as some might think.

I think you're dreamin', pal. But then again, until you posted this thread, I didn't realize it was $119/barrel. There has definitely not been the downward trend in gas prices as there was when oil/barrel went up.

Aggie Transplant wrote:I think you're dreamin', pal. But then again, until you posted this thread, I didn't realize it was $119/barrel. There has definitely not been the downward trend in gas prices as there was when oil/barrel went up.

I agree with that. And it makes me wonder in my own jaded way that maybe gas prices should have gone higher than they did when oil was as high as it was earlier, and that this is the gas companies way of "re-cooping" their profit margins. Probably a long shot guess, but I've had worse hair-brained ideas.

Cincy Fan 44 wrote:...maybe gas prices should have gone higher than they did when oil was as high as it was earlier, and that this is the gas companies way of "re-cooping" their profit margins. Probably a long shot guess, but I've had worse hair-brained ideas.

Perhaps, but I would doubt the oil companies would hestiate to squeeze out every last dollar they could from the publicity over higher oil prices.

Also, an article in the Houston Chronicle took Exxon to task since, although they had record profits, they weren't developing new fields. So, if you're not spending the bucks to drill in new locations, then what are you spending them on? Bonuses?

actually.. many analysts are calling for oil to get back to $70-80 per barrel in the next year, plus most of OPEC believes that's where the price should be anyway.

http://biz.yahoo.com/ap/080821/oil_prices.html

So much for oil getting closer to $100/barrel. Closed up $5 today. Gas will probably go up to $4.04 this weekend.

I noticed this morning on my way into work that E85 was down to $2.92 per gallon, while gas was $3.72 per gallon. When this stuff was first introduced to our market it was only $0.10 cheaper per gallon than gas. Has anyone used it? Neither one of my cars are capable of using the stuff.

IrishGuy wrote:I noticed this morning on my way into work that E85 was down to $2.92 per gallon, while gas was $3.72 per gallon. When this stuff was first introduced to our market it was only $0.10 cheaper per gallon than gas. Has anyone used it? Neither one of my cars are capable of using the stuff.

Negative. I'm in the same boat as you in that my vehicles don't take it either. Wow! $2.92 you say? What a bargain!!!

Seems like everytime gas gets down to around $2.60 here something happens for Oil to shoot up.. this morning it's down $1.23 before the market opens.

woo hoo... 1:00 and oil is down almost $4 today..

cardinal5150 wrote:woo hoo... 1:00 and oil is down almost $4 today..

I noticed a Citgo had already raised their gas prices to $3.86. Bastards.

Now down $6 a barrel...

http://biz.yahoo.com/ap/080822/oil_prices.html

Oil falls 5.4 percent in biggest drop since 2004
http://biz.yahoo.com/rb/080822/markets_oil.html?.v=13

U.S. crude fell $6.59, or 5.4 percent, to settle at $114.59 a barrel -- the biggest fall in percentage terms since December 27, 2004.

Let's figure this one out...that means we should see about a 5 cent drop say next Wednesday.

LTRT wrote:Let's figure this one out...that means we should see about a 5 cent drop say next Wednesday.

If we're lucky!

So it looks like Mr. Gustav will play havoc on our wallets, who would've thought that. Saw stations around town at $3.69, I bet fart wayne will have its traditional 30 cent jump at the pump.

Oil prices rise on storm fears
http://articles.moneycentral.msn.com/Investing/Dispatch/080827markets.aspx

It's turning into Florida, might miss the gulf refineries completely... oil was up over $2 before that news hit, now it's up less than a dollar.. and the market it up over 100 pts.. housing is starting to hit a bottom which means in 6-12 months we should see the economy start to come back up again..

The dollar is on the rise too.. all in all.. today's news is looking like things are really turning around.

Oil down $4.51 at around 1pm today...

http://news.yahoo.com/s/nm/20080901/bs_nm/markets_oil_dc

Down below $110 this morning... hovering around a $8 drop on the day..

What pisses me off is that had we seen an $8 jump in prices, gas would go up at least 20 cents by noon.. my guess is we won't see a change in prices until tomorrow morning, and it might be 10 cents max.

cardinal5150 wrote:Down below $110 this morning... hovering around a $8 drop on the day..

What pisses me off is that had we seen an $8 jump in prices, gas would go up at least 20 cents by noon.. my guess is we won't see a change in prices until tomorrow morning, and it might be 10 cents max.

Exactly, we've been playing this game now for what, 4-5 years. There ought to be something criminal about the manipulation of the prices at the pump.

Oil down on lower-than-expected US gas supplies
http://biz.yahoo.com/ap/080904/oil_prices.html

15 cent jump at the local pumps today.

LTRT wrote:Oil down on lower-than-expected US gas supplies
http://biz.yahoo.com/ap/080904/oil_prices.html

15 cent jump at the local pumps today.

Seriously, a 15 cent jump? That makes no sense to me. All of the reports I've read say we're driving less, we're driving less. Oil - one of the main ingredients in making gasoline - is falling like a rock, and yet gas prices are still high. If we're not getting screwed, then I got a bridge to nowhere to sell ya'!

I saw prices at a Pilot station go from $3.49 at 830am to $3.75 at 11:30am.

Cincy Fan 44 wrote:

LTRT wrote:Oil down on lower-than-expected US gas supplies
http://biz.yahoo.com/ap/080904/oil_prices.html

15 cent jump at the local pumps today.

Seriously, a 15 cent jump? That makes no sense to me. All of the reports I've read say we're driving less, we're driving less. Oil - one of the main ingredients in making gasoline - is falling like a rock, and yet gas prices are still high. If we're not getting screwed, then I got a bridge to nowhere to sell ya'!

I hear that there's a study out there that says people are failing to keep their tires inflated.

LTRT wrote:

Cincy Fan 44 wrote:

LTRT wrote:Oil down on lower-than-expected US gas supplies
http://biz.yahoo.com/ap/080904/oil_prices.html

15 cent jump at the local pumps today.

Seriously, a 15 cent jump? That makes no sense to me. All of the reports I've read say we're driving less, we're driving less. Oil - one of the main ingredients in making gasoline - is falling like a rock, and yet gas prices are still high. If we're not getting screwed, then I got a bridge to nowhere to sell ya'!

I hear that there's a study out there that says people are failing to keep their tires inflated.