Commodity prices

[RoyalShock]

Wow.

Oil under $78 (OPEC said they'd cut production if it got under $80).
Gasoline futures down to $1.80/gal.
Gold back under $840.
Silver down 18% to under $10/oz.

[Awesome Sauce Malone]

I was pretty happy when I went to fill up this morning and spent 2.87. The neighborhood gas station is a bit more expensive as compared to the QT down the street but I stopped for convienance.

[ShockBand]

You should have waited till this afternoon. Some stations are as low as 2.76 this PM.

[RoyalShock]

Gas was $2.77 in Hutch yesterday and this morning. As long as some report doesn't come out that says demand is creeping up, expect another drop in the next day or two.

[AG1219]

At what price do you think companies will drop those fuel surcharges they started charging customers when it went over $3?

[RoyalShock]

At what price do you think companies will drop those fuel surcharges they started charging customers when it went over $3?

Shipping companies (UPS, FedEx) have had a fuel surcharge at least since it went over $2. But unless you were a commercial client, you probably never saw it.

[C0|dB|00ded]

I certainly saw the fuel surcharge. I'm not expecting it to ever go away either...


Commodity prices falling along with more traditional oppositional investments? We are nearing the bottom...


T


...8)

[C0|dB|00ded]

P.S.

Gasoline is going to 2.00 -bank on it!


T


...8)

[capnkirk]

When the price of oil went up to $90 a barrel gas sold for $1.90 a gallon. Now that the price of oil is back down to $90 a barrel gas is $2.80.

[WuDrWu]

It took some time to go up....it will come down but there are other factors affecting gas prices.

My short options on oil (unfortunately) are skyrocketing.

[C0|dB|00ded]

Energy technicals are broken and thus speculators are starting to look elsewhere. Gas will come back down to where it should be and the worldwide slowdown will be thanked for it.

Hopefully all the silly **** about hurricanes, Chinese expansion, etc. etc. will not take such a hold on the oil markets in the future. People (those in the oil business) had been saying for years that oil's true price should be about 200.00 a barrel. Well, based on a host of natural events, manipulation by speculators, supply manipulation through collusion, and just overall celebrity sector status, oil made its attempt to break into the stratosphere. Now that all the illusions are shed it will hopefully return to "boring" status as an investment primarily for those that actually buy and use oil.

We are watching the market find the true price...


T


...8)

[SHOCKvalue]

When the price of oil went up to $90 a barrel gas sold for $1.90 a gallon. Now that the price of oil is back down to $90 a barrel gas is $2.80.

Tracking services such as the gasbuddy.com network, don't agree with what you're saying.

Their stats show that the last time gas was at the current levels, oil prices were similar to today. The last time gas was at $1.90, oil futures were in the $55 range.

[SubGod22]

If gas prices would have gone up at the same rate the cost of oil did we'd have hit around $7 a gallon. We really can't complain too much. It's $2.75 here in my town.

[ShockerFever]

If gas prices would have gone up at the same rate the cost of oil did we'd have hit around $7 a gallon. We really can't complain too much. It's $2.75 here in my town.

Please don't give any warm and fuzzy feelings to any potential oil company viewers.

[1979Shocker]

It looks like Kwik Shop in Derby is the cheapest at $2.69 with a Dillons card according to GasBuddy.

I look for it to continue to go down for a couple of reasons.
1) This is the time of year when people drive less and
2) The slowing economy is causing people to conserve more.