(no subject)

[johnnysorrow]

So I saw the gas prices this last night. 2.319, and it got me thinking..


When I was moving out of the Hodo Gas was 4.259.. So


20/4.259 = 4.695g..

and today

20/2.319 = 8.624g..

And gas is probably going to get cheaper even still.

Comments

[angry-american.livejournal.com]

This is how it should be. A recession should reduce prices and increase inventories. It should be comforting to know that supply and demand do have some effect on the price of gas in America (and the price of tea in China).

-FW

[bellaballanda.livejournal.com]

Yea but then all OPEC will do is cut production so that the price of gas doesn't get too low....

[trollup.livejournal.com]

They very recently did exactly that, to try and hold oil over $60/barrel. Didn't work. Needless to say, it takes many months for a change like that to dribble down to the pump.

[toymaker.livejournal.com]

There is a glut of oil on the market, even before OPEC cut production. So my guess is that Oil will go back to a reasonable level and the pumps will keep feeling the effects. I will state ehre that I never expect to see gas down to 1.50 a gallon again, but I could see it around the 2.00 a gallon level.

[trollup.livejournal.com]

I think current natl avg is close to that now... $2.20 or $2.30 last time I checked.

But I guess my larger point is that there is bullshit getting slung on one side or the other. We didn't wind up with a glut of oil on the market overnight, clearly. And how many months were we being told that there was an absolute shortage and that's why we were seeing $150+/barrel?

I can accept the shortage/glut arguments... but it's the constant see-saw in something (barrels/day) that doesn't actually change often or by huge increments. Somewhere the bullshit flows as thick as lava.

[trollup.livejournal.com]

Or at least "they" are letting us think it's being driven down by market forces. I will be most amused if it gets under $2 around the bay area. I think it's already dipped under in some parts of the country. With all the talk of supplies running out and global demand growing, one would expect that "market forces" would be keeping the prices up. So my question is, was all the recent talk of global market forces just raging bullshit to justify the oil speculation?