This poor economy isn't just domestic, its global. The price of crude is global. The rest of the world is also using less.

It goes hand-in-hand with the recession.... if people travel less, the price of gas isn't going to go down overnight, but if people travel less and less every month for a year, while there's no end in sight for the economy's struggles, supply and demand is going to push the price down. And that's just the US... the rest of the world isn't doing all that great, either.

I know it's not that simple... I know there's market fears/speculation, politics, OPEC, etc; and hell, SUV sales are up in the last couple of months, so why not lower the price for the Winter/Spring while the economy sucks and until Detroit gets bailed out...

Bingo. You think we're hurting? China and India are taking a ****ing beating right now. Governments have had to lift the gasoline subsidy they were giving their citizens. People are flat out not using gas. Even now that it's cheaper, people have seen the evil in it and are shunning it as much as possible. I think it's beautiful. Not thrilled about this recession/depression/whatever the hip new term is, but I'm confident we'll be alright in the end. We always are.

140 dolla crude was a bubble, and it burst.

Welcome to our world Opec.

The beautiful thing is, these oil can countries have budgets that were being fueled by their "irrational exuberence" over the no end it sight sky high prices of the crude and now, damn, they just had over have their cash streem cut off. Damn that sucks.

Sucks to be you Venezuela.

That is why it is continuing to tumble becuase the tird world Opec countries need the dough and will keep pumping.

We have seen this movie before, it was right after Reagan took office from Jimmy Carter.

to get gas below a $1 per gallon, how much per barrel does it have to be?

Light Crude is trading just under $50 per barrel right now.

$1.49 up by KCI airport

According to my delivery driver, it's $1.39 a gallon around the Independence Square area today.

About $20.00 per barrel.

I feel ripped off. It's $1.77 here.

I tell you who is getting burned by these lower prices. That is the American oil companies. With the higher prices, they were able to drill in less desirable and more costly areas. At these prices, I doubt they are getting enough money to cover expenses. I wonder what the status is in the ND oil fields right now.

Oh shit, Exxon may need a bailout.

Wouldn't that be ironic?

Crude closed up $4.47 (9.12%) today @ $53.50.

1.43 in blue springs

$1.35 in Independence
$1.50 in Topeka