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Gas Prices around you

#85
I paid $1.69 here in Omaha Nebraska the other day. Now I'm shaking my head at the news media pundits who were sounding off apocalyptic alarms during the record breaking higher oil prices earlier this year, who are now sounding off alarms for the recent big slide downwards of oil going below 50 bucks a barrel. It seems these clowns need a constant crisis where the opposite of bad is still bad. I know my finances have perked up a bit. Maybe I can afford a few new sets of strings finally.;)
 
#89
What's going on? While I am very happy about the price drop, I don't understand how a barrel of oil can go from 140 a copy, to under 50 bucks. There isn't THAT much difference between supply and demand. Gas is 200% cheaper than it was just months ago. From 4.50 to 1.50's.
 
#92
Vorago said:
Well, economy plummets, production drops, demand drops, but it IS a radical drop indeed :eyebrow:
Click to expand...

I understand the parralels with the economy and stock markets....but I'd suspect at most consumption would be down at 10% at most, with the price per barrel down 200%. It just doesn't add up. I'd like an explanation on why were were paying 4-4.50 per gallon. Fuel is my largest business expense, and it cost me quite a bit.

Shady speculation couldn't be the sole cause of it could it? Someone knows the answers, yet no one speaks it.
 
#96
Bard2dbone said:
$1.78 in Ft Worth today.

Yeah, this is about where it was before 2003 or so when it started going up. This would be a good useable price level, except it's only this low right now because the OPEC people are in panic mode. They were feeling pretty comfortable with it being more than double. The reason for that is that gas actually cost the same amount when it was $4.15/ gal as it did the last time around when it was $1.80/gal. It's just that to get $1.80 worth of 2003 money now, you need $4.15 of todays money.

So REALLY, the price of gas is about $ .95 right now.

It still cost the OPEC people enough that it ought to be about $1.40-ish. So in todays money that's what? About $3.00? That sure sounds like a lot to me. But not as much as it would have before this last summer.

In the end, we're all screwed. Just enjoy it being low right now.
Click to expand...

1.49 this morning. That's pretty awesome. I wonder what that is in inflation and exchange rate adjusted money?
 

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