I'm sure the flap has had something to do with this. But dont get too excited, just wait till the summer hits! This is a little relieve for a couple of days so we'll stop bitching!

Nothing more.

also dont expect to see any gas price reductions from this either. very interesting how when oil rises 4 or 5 bucks in a few days the increase in gas prices is almost immediate, but when it drops 4 or 5 bucks the price just stays the same....very interesting indeed. we are in this for the long haul and a year or 2 from now we will all be wishing we had $3 gallon gas again.

Ok this is a little unintuitive. Gas station owners can lose money when prices go down and UP. How is this so?

Let’s say I own gas station and I just bought a load of gas and the storage tanks are full. The next day my wholesaler calls me tells me that prices have gone up and my next tank will cost me 10 cents more. I must raise my prices NOW so that I may afford to buy the next load of fuel.

On the on the hand, let’s say prices go down and they guy down the street from me just bought a load of gas at the new LOWER price. If I don’t match his price (and lose money) no one will buy my gas.


[edit on 4-5-2006 by El Tiante]

Was only a minor blip or technical selloff and by no means signals any sort of lengthy trend. I doubt anyone sees an effect on the pump prices, as Memorial day on the 29th will kick off the gas sucking travel season and will shoot up the demand and prices to record highs.

Precious metals still rose today with gold up $8 at $676.5 for June futures signaling oil's decline is only temporary.

It's so temporary it's now time to load the boat on nymex crude.



[edit on 4-5-2006 by Regenmacher]