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Donger 10-16-2008 12:45 PM

Quote:

Originally Posted by Deberg_1990 (Post 4786720)
he still thinks we will see $3 again by the end of this year. ROFL

Never doubt me.

BigCatDaddy 10-16-2008 01:04 PM

Quote:

Originally Posted by Donger (Post 5122005)
Never doubt me.

While I believe reducing demand has helped lower the price. The large increase in price over the summer appears to be driven mostly be speculators now. I would think OPEC would love to hang those guys by their testicles. While they had the nice spike for a short time, they have appeared to have triggered a global decrease in demand over the long haul, including mandates on fuel efficient cars and a more urgent development of alternative fuel sources.

Kerberos 10-16-2008 01:23 PM

2.67 per gallon here in Junction City, Kansas

It's been so long over $3 a gallon I don't remember when it was this low.

Bowser 10-16-2008 01:25 PM

Quote:

Originally Posted by Kerberos (Post 5122112)
2.67 per gallon here in Junction City, Kansas

It's been so long over $3 a gallon I don't remember when it was this low.

The problem is thinking 2.67 is low.

Donger 10-16-2008 01:27 PM

Quote:

Originally Posted by BigCatDaddy (Post 5122052)
While I believe reducing demand has helped lower the price. The large increase in price over the summer appears to be driven mostly be speculators now. I would think OPEC would love to hang those guys by their testicles. While they had the nice spike for a short time, they have appeared to have triggered a global decrease in demand over the long haul, including mandates on fuel efficient cars and a more urgent development of alternative fuel sources.

Correct.

El Jefe 10-16-2008 01:34 PM

2.79 here in Columbus OH.

AndChiefs 10-16-2008 01:38 PM

still 3.20 out here

BigCatDaddy 10-16-2008 01:42 PM

Quote:

Originally Posted by Donger (Post 5122125)
Correct.

Sweet! I got one right.

Frazod 10-16-2008 01:51 PM

$3.08 in Naperville. Hopefully it'll be under $3.00 by next week. Seems to drop several cents a day every day.

Over-Head 10-16-2008 01:53 PM

The wife paid 1.19 a litre today :D
3 weeks ago it was $1.56

Donger 10-16-2008 01:56 PM

Crude closed down $4.69 (6.29%) @ $69.85. That's ~$2.85/gallon.

Donger 10-16-2008 01:59 PM

OPEC moved forward its emergency meeting to October 24. Expect them to reduce output by at least 1 million barrels/day.

And crude still dropped.

MOhillbilly 10-16-2008 02:03 PM

maybe i should get a donkey and a horse and start breedin mules.

chasedude 10-16-2008 02:40 PM

Quote:

Originally Posted by Donger (Post 5122246)
OPEC moved forward its emergency meeting to October 24. Expect them to reduce output by at least 1 million barrels/day.

And crude still dropped.

The value of the dollar is really moving up lately. A dollar in Euro's is .74 today. This could be another reason why the price is dropping, our money is worth more now.

Donger 10-16-2008 02:41 PM

Quote:

Originally Posted by chasedude (Post 5122398)
The value of the dollar is really moving up lately. A dollar in Euro's is .74 today. This could be another reason why the price is dropping, our money is worth more now.

Indeed.


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