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Discussion Starter · #1 ·
When crude oil was moving up in price, every 30 minutes someone was posting outrages about the move.

Now crude is falling, down $25 from the highs and not even a peep from the populous! :star:

Is everyone in a coma? :p:

Well, in case you were out getting a nooner this afternoon and missed it, here's the latest. :cheers:

LONDON, July 29 (Reuters) - Oil fell more than $4 a barrel to below $121 on Tuesday, touching the lowest price since May, as signs of weakening demand outweighed a disruption to Nigerian oil output.

The drop also coincided with a firmer U.S. dollar, which may have reduced the appeal of commodities to some investors, and comments from OPEC's president that oil could fall to $70 or $80 in the long term.
 

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ghart said:
The drop also coincided with a firmer U.S. dollar, which may have reduced the appeal of commodities to some investors, and comments from OPEC's president that oil could fall to $70 or $80 in the long term.
I've been watching barrel prices for the last couple months.

I think I heard that $80/barrel forecast somewhere a couple months back! :laugher:
 

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and the price at the pump will surely drop $.05 in three months...

speculation or increases make the price at the pump rise instantly in real time.....

decreases take weeks to see any movement... crooks
 

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Discussion Starter · #4 ·
Re: Re: What's The Deal?

MattBMiller said:
I've been watching barrel prices for the last couple months.

I think I heard that $80/barrel forecast somewhere a couple months back! :laugher:
That was me, actually I predicted it would break $100 by year end and could fall to as low as $80. I didn't say it would hit 80. ;)
 

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Discussion Starter · #5 ·
jb said:
and the price at the pump will surely drop $.05 in three months...

speculation or increases make the price at the pump rise instantly in real time.....

decreases take weeks to see any movement... crooks
Gas is down 10 cents in price where I buy my fuel for the Avalanche. :bigsmile:

Crude will slow the decent around $110 and could retest the $121 level before moving through 100 by year end. :D
 

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Speaking of which, has anyone noticed the HUGE gap forming between 87 and 92 octane? There is a Citgo up in Elkton that has a 61 cent difference between the two?

The lowest stations are right around $3.78 a gallon now, lowest diesel I've seen was $4.61 :mad:
 

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PJDiesel said:
Speaking of which, has anyone noticed the HUGE gap forming between 87 and 92 octane? There is a Citgo up in Elkton that has a 61 cent difference between the two?

The lowest stations are right around $3.78 a gallon now, lowest diesel I've seen was $4.61 :mad:
exact oppositte around here.....the gap between 87 and 92 is shrinking to less then .20 per

ghart to be honest I dont get one bit excited about the barrel falling because I don't see it at the pump.

But the minute the barrell rises I get REAL excited because I certainly see it at the pump....

I try to be un-emotional about the whole thing.
 

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That must have something to do with the volume of which they are selling (obviously more of the regular grade).

Just ticks me off that I KNOW they run out there and jack up the prices well before the are getting the next load when they see the new pricing. Does that work the other way too, are they running out three times a day to DROP the price considering how much their next shipment will cost?

Highly doubt it.
 

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Discussion Starter · #9 ·
UP_ROKTOY said:
exact oppositte around here.....the gap between 87 and 92 is shrinking to less then .20 per

ghart to be honest I dont get one bit excited about the barrel falling because I don't see it at the pump.

But the minute the barrell rises I get REAL excited because I certainly see it at the pump....

I try to be un-emotional about the whole thing.
The most I paid on the street was $4.07 for 87 octane three weeks ago. Same station is pumping it at $3.81 today.
 

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Saw a WAWA today at $3.63 and $3.98 for 93 octane!!!! I made a few comments to co-workers about it this morning.
 

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Ghart--They must have heard you. Was around 121 at posting and now 123. It should keep dropping though with supply going up and demand down, it is simple math. I am also glad the president got rid of the rule of no drilling off the Gulf
 

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Discussion Starter · #12 ·
Just keep this time in your mind, tomorrow morning at 10:35 :blush:
 

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ghart said:
Just keep this time in your mind, tomorrow morning at 10:35 :blush:
At 9am this morning they said they expect it to go to $117 before the close of the week and maybe $100 before mid Sept..

Just Drop the gas Pump Price.. Were down to $3.99 here from a high of $4.19
 

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Time for some math----

42 gallons of gasoline from a barrel of oil
23 dollar drop in a barrel of oil
gasoline should drop 55 cents a gallon

Has and will not take place at the pump and da** bud for selling out.
 

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bnboatn said:
Time for some math----

42 gallons of gasoline from a barrel of oil
23 dollar drop in a barrel of oil
gasoline should drop 55 cents a gallon

Has and will not take place at the pump and da** bud for selling out.
Just doing it by percentages, we should be seeing around a $.40 cent drop total (minimum)
 

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Discussion Starter · #18 ·
bnboatn said:
Time for some math----

42 gallons of gasoline from a barrel of oil
23 dollar drop in a barrel of oil
gasoline should drop 55 cents a gallon

Has and will not take place at the pump and da** bud for selling out.
You're numbers are off a tad. A barrel of crude is 42 gallons. The average yield from that 42 gallons of crude is only 19 1/2 gallons of refined gasoline product.
 

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Discussion Starter · #19 ·
Keep in mind there is, give or take a few days, about a month's supply of refined product in standing inventory at any given point in time.

As with any good business management, you need to react immediately to cost increases and average your retail prices as costs come down.

Works the same way with every manufactured product we buy and sell, nothing underhanded, just acceptable accounting practices! :blush:
 

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The problem is EVERYTHING is more expensive now and this increase in price took awhile to happen. Now it's here to stay. Yeah, gas may go down a whole $0.10-0.20 per gallon but don't count on the price of everything else coming down. So, no, I am not doing backflips when oil drops.
 
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