Thread: Oil Slick Stuff

The gas stations in my normal driving area have all jumped up to $2.99 a gallon. Yesterday one of them was at $2.77. I was going to stop and fill up last night but figured I would do it on the way home today. Dang it!!!

Originally Posted by Minnow

Been along time since the Redneck Riviera has been the same price as OKC. We're now at $2.87.

Hope you guys start falling again.

Hope you're sync'd with us now..price dropped to $2.79 last night

Still drowning over here. Prices went up to $4.37 for regular.

Originally Posted by konakathy

Still drowning over here. Prices went up to $4.37 for regular.

I would MOVE, nowhere is that pretty!

Oil closes below $79 a barrel, its lowest level since June 2012

Gas 'round here now going for as low as $2.799.

I have a question, though. See there was a whole lot of selling the public on raising prices for everything since it was tied to the price of fuel. I thought that was understandable. I got it. What I want to know is: How come prices haven't started coming down? Everything from the price of meat, milk, veggies, utilities, energy, etc. went up real quick and has not stopped. Shouldn't those prices come down now that the price of fuel has dropped? Just thinkin' out loud.

Yes transportation costs are down due to the lower fuel prices, but it will take a while for the transporters to lower their prices but it will come if the price stays lower. That will reduce the price of most commodities, when I don't have any idea.
They are linked.

Originally Posted by Minnow

Gas 'round here now going for as low as $2.799.

I have a question, though. See there was a whole lot of selling the public on raising prices for everything since it was tied to the price of fuel. I thought that was understandable. I got it. What I want to know is: How come prices haven't started coming down? Everything from the price of meat, milk, veggies, utilities, energy, etc. went up real quick and has not stopped. Shouldn't those prices come down now that the price of fuel has dropped? Just thinkin' out loud.

Hang in there bud..it's now $2.70 here today...

I agree, since fuel prices have come down, the shipping costs, etc. should decline a little too I would think..

E10 averaging $2.61 a gallon in Boiled Peanut!

Oil prices hit 4-year lows after Saudi discount
By PAN PYLAS
Associated Press
Nov 4, 7:43 AM EST


LONDON (AP) -- Oil prices sank to four-year lows on Tuesday following reports Saudi Arabia, OPEC's largest oil producer, is cutting its prices for customers in the U.S.
By early afternoon London time, a barrel of benchmark crude was down $2.07, or 2.6 percent, at $76.79, its lowest level since September 2010. Meanwhile, Brent crude, the international benchmark, was down $2.14, or 2.5 percent, at $82.63 a barrel, its lowest level since October 2010.

The market was shaken by news that Saudi Arabia was cutting prices for the U.S. to compete with the surge in oil production there.
"A snowballing effect is what we are seeing in crude oil price today," said Fawad Razaqzada, an analyst at Forex.com. "News that Saudi has cut its asking price to customers in the U.S. suggests even the largest OPEC producer is now worried about its market share. This does not bode well for the future of the cartel."
OPEC members are due to meet on Nov. 27 in Vienna, Austria, but investors doubt the cartel will agree to cut production to raise prices. That is another reason why oil prices have remained under pressure.[more]

News from The Associated Press

Gas around my area still close to $3.00 a gallon.