Gas Prices Dropping Like A Rock

Hey....at last, as Oil Prices are falling faster than gravity, Gas prices will also fall, not because these Greedy Oil Barons feel like giving a bonus, it is because they are stuck with their "Hoarded Oil" people are just not buying their crap anymore.


Jul 23, 2008 3:44 pm

Analyst Says Prices Could Go To $3.50 A Gallon By Labor Day

"So often we hear gas prices rise like a rocket and drop like a feather, this time, they're starting to drop like a rock and that's a good thing," Flynn said.

That's partly because demand is down about 4 percent from where it usually is. Many people have put the brakes on driving this summer because it costs too much.

07.23.08, 4:19 PM ET

NEW YORK (Reuters) - Commodity markets slumped broadly Wednesday, dragged by crude oil prices that dropped below $125 a barrel after the government reported a big rise in gasoline stocks, suggesting high pump prices were hitting U.S. fuel usage.

Crude futures on the New York Mercantile Exchange, or NYMEX, settled down $3.98, or 3.1 percent, at $124.44 a barrel -- the first close below $125 since June 4.

With the market worried about consumption in the United States and Europe, NYMEX crude is down more than $20 from the all-time peak above $147 a barrel hit on July 11. It was crude oil's steepest drop in dollar terms in the market's history.

Wednesday's losses came after the U.S. Energy (nasdaq: USEG - news - people ) Information Administration released a report showing a surprisingly large increase in domestic gasoline stockpiles last week, accompanied by weak implied demand.

www.forbes.com...

I hope they go down here in the uk because we are paying atleast £1.20 per litre, its just absolutley crazy

Now a good way to hit them where it hurts is to CONTINUE using less fuel.

Force it to drop even further..less oil used..cheaper oil prices..making it valueless.

People would be less inclined to try and make a fast buck on everyones misery.

Yeah I know..it's just a dream.

reply to post by AGENT_T


.......but a good dream. I hope we can all do just that -- cut down even further, make a global point. As to the fuel price dropping..... I'll be thrilled when I see it. $5.25/gallon here.

this is great news! I hope that the oil price will not drop enough to kill the new developements in alternative technologies.. maybe this is why they dropped the price in the end! back in the 70s was the same thing - car companies started to go well on electrical cars , however the drop of the oil prices killed the EVs .
I guess that the battle is even greater now as a high price on petrol would lead to serious technologies developement - thanks to the Internet that would reduce the needed time to develope such things!

So my guess? drop the price enough to be better than the alternatives, so you make sure people are dependent on your petrol as long as possible..

[edit on 24-7-2008 by sty]

Originally posted by sty
this is great news! I hope that the oil price will not drop enough to kill the new developements in alternative technologies.. maybe this is why they dropped the price in the end! back in the 70s was the same thing - car companies started to go well on electrical cars , however the drop of the oil prices killed the EVs .
[edit on 24-7-2008 by sty]

These Oil Companies and their Brokers who speculate the market to raise prices based on pure greed, have caused a terrible diversion by paying their bafoons to promote making bio diesel, based on using foodstuff....which has raised the price of basic foodstuff, and as far as alternative fuel is concerned, there is nothing in the pipeline, because these inventors are all bought & sold by them, it is misleading.

The only method at present at our disposal right now is the most powerful tool available, and that is to buy less gas, use alternative transportation & be wise, cut down on unnecessary trips etc...and this will send a powerful message to the bosses, that their prime commodity is being dumped....Prices will Drop further, until it comes to $1.00 per Tanker.....!!!

Originally posted by argentus
reply to post by AGENT_T

 

.......but a good dream. I hope we can all do just that -- cut down even further, make a global point. As to the fuel price dropping..... I'll be thrilled when I see it. $5.25/gallon here.

man, do you even have pockets anymore? thatd burn a hole right through my pants in a second

i feel lucky that i have good transit system and my bikes close enough to get my where i need to go

and i do give friends gas if we ever leave out of town, granted i never ask for rides so far that i dont take responsibility for it

if gas goes to 2$ gal i may consider getting a cheapy 4 banger

Im starting to think the oil companies stabbed themselves in the back, yesterday i had a heated discussion with the owner of our local station, there was a tanker doing deliveries to his place, but th price stayed the same, i just wondered why, today however it went down a penny.

I also hope that because of the prices recently, someone invents free energy so we can tell them to shove their oil, i just think they allowed it to go too far this time, i doubt people are going to forget so easily this time, always remember these people took food from your mouths.

I just hope after hearing this that people here in the states dont go back to Giant pick up trucks and gas guzzling SUV's that never go off road.

The used car lots where I live have tons of those that people have traded in for more fuel efficient autos.

Bicycle purchases are way up - lets hope people keep riding them.

I'm using less than half the amount of fuel I was using last year at this time and I will continue to use less - if everyone does their part we will have amazing results.

I think it's too late to lower the price of gas this time and alternatives to gas are coming whether they like it or not. We've been raped and no matter how they try to butter us up at this point the rape has already occurred and we won't soon forget.

Remember this is a war and the ultimate goal is to not use any gas.

Oil prices on the way up today.

There was a clip in the news that showed a bank offering loans for bikes now, form $250 to $2,500

Originally posted by amatrine
Oil prices on the way up today.

There was a clip in the news that showed a bank offering loans for bikes now, form $250 to $2,500

Never trust a Bankster to lend you an Umbrella on a Rainy Day. When Banksters offer you something, it's time to get worried, because they never do, unless it's a rope round your neck.

Originally posted by verylowfrequency
Bicycle purchases are way up - lets hope people keep riding them.

I'm using less than half the amount of fuel I was using last year at this time and I will continue to use less - if everyone does their part we will have amazing results.

Wonderful....these high gas prices may just turn out to be a blessing in disguise, after all. Biking and Walking may just be the thing to tune-up the Body, thereby saving another wolloping savings on Pharma Drugs who make 5000% Profits.

Keep Up that Walking and Biking Power

Originally posted by amatrine
Oil prices on the way up today.

There was a clip in the news that showed a bank offering loans for bikes now, form $250 to $2,500

yes, you are correct, but bicycles is the in-thing right now.

I don't get it.
Gas prices go up and people gripe.
Prices go down and they still gripe.

reply to post by Dubyakadubla


You do know that it's those evil speculators that are bringing the price down?

Right now the Bears have it. 110.50 is the next stopping point. We will see.

Roper