Oil prices falling !!

bearklr · 05-03-2006, 12:37 PM

I know it's nothing to get excited about but it's the first good news that had the word "oil" in it for quite some time now. The price is down $2.24 a barrel. This brings the price down to 70.10 a barrel. I know this doesn't sound like much but the 52 week low is 67.40. This is all because of the news release today that gasoline demand is down from last year and has actually leveled off. Of course the price at the pump won't go down but 1 or 2 cents. I bet if oil would have went up 2.20 a barrel the price would have risen a good 20 cents though.

DougMD · 05-03-2006, 12:41 PM

That's MY problem with the gas stations, the price seems to come down more slowlythan it rises. Good news, though I'd really like to see progress in the alternative fuel development area. If the prices come down some, the incentives for such development may again dwindle.

Canuck_Buck · 05-03-2006, 01:01 PM

EIA said refineries are now operating at 88.8 percent capacity, which is higher than analysts expected.

Lanse couche couche · 05-03-2006, 01:07 PM

Now if a lot of folks will trade their Hummers, 4-wheel drive Dualie trucks, and SUV's in for Hyunai's, your will see a really big drop ingas prices.

bearklr · 05-03-2006, 01:11 PM

Quote:

ORIGINAL: Lanse couche couche

Now if a lot of folks will trade their Hummers, 4-wheel drive Dualie trucks, and SUV's in for Hyunai's, your will see a really big drop ingas prices.

I agree with ya LCC but of course that won't happen. At least it's good to see that the population in general is conserving fuel consumption.

RedAllison · 05-03-2006, 03:17 PM

I don't care if it goes too $10 a gallon, I am NOT parkin my Avalanche and driving some sukiaki beercan deathtrap like a Hyundai...

If high fuel costs keeps traffic down then I am ALL for it, more room on the road for my bigger vehicles!!!

RA

Lanse couche couche · 05-03-2006, 06:40 PM

How about a Ford Escort?

RedAllison · 05-03-2006, 07:31 PM

Lanse perhaps you don't understand my "parameters" for what I consider a "small car".

"Small car" in my book is a Cadillac Eldorado or an STS. As much as I like those I want something with a little more room (I am 6'4" 230, I just don't fit in most cars) and my next car is probably gonna be a Cadillac DTS. I'm gonna park the Avalanche for just hunting/fishing/hauling, for daily driving and parking in evershrinking in size parking lots/spots I have come to enjoy driving a car more for daily use.

Anything smaller than a Cadillac or Lincoln is just a burial vault on wheels IMHO!!!
RA

This is more like what I have in mind...

Briman · 05-03-2006, 08:08 PM

Red, I have to agree with you. The price of operating a big overbuilt car or truck is worth it in terms of safety alone over driving a recyclable beer can with 4 wheels.

wihunter32 · 05-03-2006, 09:33 PM

in my opinion, people overreact to the price of gasoline on their personal budget simply because it is so visible. what other product or service do you notice a couple cents change in each and every day? i mean unless you drive 20000+ miles a year or drive a vehicle that gets 10 mpg, you should be complaining about car insurance or health insurance instead. those markets are far more manipulated and have just as much if not greater affect on our finances.

for most people, the net effect is well under $1000/year and if it isn't, those people should realize that their lifestyle choice is what is costing them that money.