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 > Gas prices dropping like lead balloon in the US

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globemaster9

Georgia

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Posted: 10/08/08 07:33am Link  |  Quote  |  Print  |  Notify Moderator

Don't get too excited about lower prices. OPEC is talking about cutting production.


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Rollincool

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Posted: 10/08/08 08:00am Link  |  Quote  |  Print  |  Notify Moderator

They're dropping, but NOT like a led balloon.


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Matthew_B

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Posted: 10/08/08 08:10am Link  |  Quote  |  Print  |  Notify Moderator

silversand wrote:

My new revised prediction for West Texas Intermediate and the Middle-East stuff is, are you sitting?, $50 bbl US.


As nice as that would be as a consumer, I hope not.

The Alberta tar sands are going nuts, and adding capacity as fast as they can. $50/bbl oil will stop them. I want Alberta to become the world's largest exporter of oil, not stay where they are today.

There are also coal to oil plants under construction. 20 years ago developers of coal to oil plants took a bath, a drop in oil price will scare away investors for another 20 years.

globemaster9 wrote:

Don't get too excited about lower prices. OPEC is talking about cutting production.


We'll see. We also might see an end to OPEC dominance. Saudi Arabia is aware of the above and may ignore any calls to cut production to keep new production from building.





Camp, Forrest, Camp!

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Posted: 10/08/08 08:18am Link  |  Quote  |  Print  |  Notify Moderator

I paid $3.50 at Costco the other day, down from $4.19 at the highest this summer. I don't hear that on the news. In fact, the news last night was that Idaho gas prices are still higher than the national average. That may be true, but they never mention the good stuff too.


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fla-gypsy

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Posted: 10/08/08 08:22am Link  |  Quote  |  Print  |  Notify Moderator

Still 3.60 here in Florida


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rhillx4

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Posted: 10/08/08 09:51am Link  |  Quote  |  Print  |  Notify Moderator

3.39 here.


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Budster

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Posted: 10/08/08 10:14am Link  |  Quote  |  Print  |  Notify Moderator

$3.43 here

Jeepers92

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Posted: 10/08/08 10:23am Link  |  Quote  |  Print  |  Notify Moderator

Gas is $3.80, Diesel is $3.96
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dadd45

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Posted: 10/08/08 11:11am Link  |  Quote  |  Print  |  Notify Moderator

tandkj wrote:

On the road in KS, saw gas at $2.79 and diesel at $3.74. Gas going down fast but diesel is dragging along at a slow rate. Wish it was the other way.


IMHO, until the farmers are finished with harvest and truckers stop hauling OTR we're looking at hi diesel fuel prices.....just a fact of life anymore....John Q gets the short stick again....


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av8rds

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Posted: 10/08/08 11:49am Link  |  Quote  |  Print  |  Notify Moderator

IMAGINEER wrote:

There are two gas stations battling it out in Brockton, MA. $2.75 for gas and $3.57 for Diesel.


great, I just paid $3.35 in central MA!


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