Today, Bloomberg is showing that Spot Brent closed down $4.52 to $107.46 a barrel. Guess the news folks that said the price of gas was sure to go up because of Gustav haven't a clue. You should also see a reduction in your electric bill. Electricity has been falling $2-$5.00 per day per megawatt. Looks like we might just see oil at $70.00 by Christmas. I could deal with that!

 

 

A lot of it is because Gustav is weaker than expected, and the dollar keeps getting stronger.

With Euro and GBP expected to keep getting weaker against the dollar, especially with their expected rate cuts, oil will keep getting cheaper!

 

Up here we still had our typical September long gouge.

I'm doubting we'll see it dip below $1.00 a litre for the winter months here. We just keep getting extra ****ed every year.

All I have to say is Supply and Demand my white ****.

 

I paid $3.43 a gal the other day

at
1 US gallon = 3.78541178 liters you are paying about $3.76 a gal hell its higher most states still

 

They also say it takes a few days after the storm hits before a noticeable change in prices. They have to go in and do their damage assessment first.

 

katrina the price went up 5 days before landfall

 

Don't bet any money on it...

Why I cant figure why but the last 2 presidential elections gas dropped before the election then went back up.

Also I read recently that as demand drops due to price they will pump less from the ground to keep the price of a barrel up which will also affect the supply and demand equation. We will always get bent over and they will have some excuse why? We paid $4 per gallon before and they know we will take it without too much screaming so get ready.

I will make a friendly bet and prediction that gas will go up after the election regardless of who wins.

 

i think im still paying just below $4 now for regular...

 

As of 9:38 EDT, Brent Spot has fallen to $105.00 and expected to continue to fall. Home heating oil futures has fallen $.17 a gallon and gasoline futures are at $2.68 gallon....and falling. The only refinery that shut down that I'm aware of because of the storm was in Baton Rouge. It's suppose to be back up and running later today. Otherwise, looks like Gustav was just a big thunderstorm.

 

No they don't, we don't pump any less or any more than any other time. Oil wells are on timers, they run so many hours a day in a couple of hour increments. The people that have the oil are not going to stop making money by pumping the oil just to make the oil companies happy, I don't know if you know this or not but most wells are privately owned. We pump the same amount of oil at 150$ a barrel as we did at 40$ a barrel, we pump as much as we can.

 

Our gasoline is at 1.39 right now, here.. Not a dollar, I was saying the typical winter dip in prices.

 

ok just checkin

 

regular is 3.59 right now..not great but pretty nice

 

It was $3.33 Friday, and jumped to $3.49 by saturday. Been steady at $3.49 since then.

Interesting how it takes awhile to fall down but jumps drastically at even the hint of supply problems.