Oil Closed at $64 a Barrell today...

[wardfamily1]

Why oh why is gas still over $2.60 a gallon?

 

[akhenaten]

yes that is a really good question....

does anyone know how much we were paying for a gallon of gas when oil was last at this price???

 

[daughtersrus]

Ours finally dropped under $3.00 yesterday! It should be at least $1.00 less than it is. Funny how it goes up so fast based on the barrel price but never goes down the same ratio when the barrel drops.

 

[Par8hed]

Don't hold your breath anyway. OPEC announced today that they are cutting production to raise the prices back up. Nice huh?

 

[daughtersrus]

yes that is a really good question....

does anyone know how much we were paying for a gallon of gas when oil was last at this price???

I found this article from 2007
http://money.cnn.com/2007/05/16/news/economy/oil_bythebarrel/index.htm

Today, crude's about $65 a barrel and a gallon of regular unleaded costs $3.10

 

[Oreo Cookie]

Don't hold your breath anyway. OPEC announced today that they are cutting production to raise the prices back up. Nice huh?

That's what I read too. Contrl the price by reducing production - uggh!

 

[akhenaten]

I found this article from 2007
http://money.cnn.com/2007/05/16/news/economy/oil_bythebarrel/index.htm

Today, crude's about $65 a barrel and a gallon of regular unleaded costs $3.10

thanks..so we are not out of line then...

gas here is about 2.59

 

[golfgal]

$2.29 in our area.

 

[hrh_disney_queen]

I paid $2.59 for regular unleaded today..never thought I would see that, it just keeps going down a couple of pennies at a time. I'm bracing myself for when it starts to go up again.

 

[arminnie]

$2.05 here last night. Didn't look today.

 

[lovesmurfs]

Uggh. I hate the Chicago area! Just paid $3.10.

 

[Uncle Remus]

I wanna know why prices at the grocery stores haven't come down some, they claimed they had to raise prices for fuel costs, well, fuel costs are down now and I ain't seein' any reflection of that at the grocery stores.

 

[Island_Lauri]

Isn't it amazing how much the price of a barrel of oil has dropped?



Do you think it was all those chants of "Drill, Baby, Drill" that did it?

 

["Got Disney"]

$3.05 last night...this morning $2. 98.....1 hr ago....$2.89.......and asked my Dh the same...if the barrel is so low why were the gas prices still up.

If they start to lower production as they said to raise the Gas prices.....that is horrible...and I heard the same thing today.

Cant wait till we get cars that need no gas and we can smack them in the face that way....creeps.....

There the people Obama needs to be taking money from to redistribute the wealth...not the small businessman....he should make it on companies that are making a 300% profit a year.....that's who.....

 

[lovemygoofy]

I wanna know why prices at the grocery stores haven't come down some, they claimed they had to raise prices for fuel costs, well, fuel costs are down now and I ain't seein' any reflection of that at the grocery stores.

Well disel prices arent falling as quickly as regular fuel for one thing. Also, the prices we pay now are a reflection on things that have happened this summer. The farmers need to recoup the cost they had to endure this summer which passes along increases to us. IF things like gas prices still decline in the upcoming months, I would guess by the first of the year quarter would reflect the cheaper pricing.

 

[mommylovesdisneymore]

$2.65 here

 

[Mr Man]

I found gas for $2.22 here in Houston today.

It always takes longer for prices to come down than it does for them to rise........it just does...... I went to Kroger here yesterday.....they wanted $5.25lb for tomatos......

The price of oil does have an effect on gas prices but the refining of oil into gas and then it's distribution from there via pipeline/ship/overland trucking etc has a greater effect on the price of gas than oil.

I am thinking the drill here, drill now may have had some small effect but the simple fact that demand has been reduced because of the high fuel prices played a larger part. I love conservation. Good job Americans!


OPEC is a cartel. The primary purpose of the OPEC cartel is to control the supply of oil to the world, thus keeping the price artificially high. Cartels are illegal in the United States. OPEC is not a friend of the United States.

I say let them reduce production......and let some member parties renege on this agreement (let's face it, Venzuela and Iran and russia-yeah not really a member of OPEC but definitely a fellow traveler- really don't have a choice, as they are entirely dependent on their oil exports to maintain their extremely poor standard of living). I would like for OPEC to fall apart and lose all influence.

This is why I say we need to drill here, there & everywhere while pursuing alternative energy sources that do not enrich those who do not mean us well.

JMO

 

[kydisneyfans]

Drill baby drill!!!!

That would render OPEC completely useless 5-10 years from now, plus provide thousands of needed jobs in the US today.

At the same time, development of an alternative energy source can be ramped up for use 10-20 years out, putting more Americans to work.

It's a win win but some don't see it that way.

Gas has dropped .58 a gallon in 11 days, now 2.35 in Lexington.

 

[heatherleigh]

I wonder if we'll see a difference in our Chesapeake dividend next month. However, I'm unable to see a correlation between oil prices and our dividends. They've been pretty consistent the past several mos, and were actually much higher when oil prices had first increased last year. Who knows. There never seems to be any rhyme or reason.

 

[Par8hed]

Drill baby drill!!!!

That would render OPEC completely useless 5-10 years from now, plus provide thousands of needed jobs in the US today.

I so wish that were true but it's not remotely close.