www.chirpthird.com: Gas prices should be dropping shortly

This is topic Gas prices should be dropping shortly in forum SSOA: "Back Porch" at www.chirpthird.com.

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Posted by blkragss02 (Member # 1801) on :

http://www.usatoday.com/money/industries/energy/2004-05-21-saudi-oil_x.htm

Posted by SS_CarGuy (Member # 2065) on :

I hope this helps. Not only are we paying more for our gasoline, almost all products we buy and use are affected by higher crude oil prices too.

Posted by KevinA (Member # 139) on :

the price of oil has dropped already. They say it will take 45 days to drop at the pump.......so if oil goes up, you see it the next day at the pump, but if it goes down it takes 45 days. WTF?

Posted by Mike2001SS (Member # 2088) on :

quote:
Originally posted by KevinA:
the price of oil has dropped already. They say it will take 45 days to drop at the pump.......so if oil goes up, you see it the next day at the pump, but if it goes down it takes 45 days. WTF?

Posted by SteelHorse (Member # 1725) on :

quote:
Originally posted by KevinA:
the price of oil has dropped already. They say it will take 45 days to drop at the pump.......so if oil goes up, you see it the next day at the pump, but if it goes down it takes 45 days. WTF?

Sheeze, can you say RIPOFF.

Posted by el ess1 (Member # 1544) on :

Don't get your hopes up too much. The OPEC clowns decided not to raise production at this weekend's informal summit. So any drop won't be much of one.

The price we pay for not allowing Bush's energy plan from a couple years ago to be implemented. Not saying it was a cure-all, but it's better than anyone else has come up with. Build more refineries or expand the capacity of the ones already (huge profits for oil companies lately should fit that bill) and allow tapping more oil sources like in the frozen north of Alaska. Otherwise, open your wallets and dump them out at the gas station and hope it doesn't go to $5 per gallon. The Hummer sales will drop off very soon, I'm guessing... [Smile]

Posted by laraandre (Member # 1577) on :

quote:
Originally posted by KevinA:
the price of oil has dropped already. They say it will take 45 days to drop at the pump.......so if oil goes up, you see it the next day at the pump, but if it goes down it takes 45 days. WTF?

GREAT POINT!!!!! [Mad]

Posted by Y2KSS1363 (Member # 1564) on :

Prices go up quickly and go down slowly because the retailers have to be able to replenish their
stocks after current inventory is sold. When a
retailer knows the price is rising, he will price
his current stock at a level that will pay for it.
When the price is falling, he will believe it when he sees it. This is the time when he makes
and extra buck or two.

Currently, refiners look like the big "winners" until you realize that large capital expenditures are
required to comply with new environmental regulations.

[ 24. May 2004, 03:02 PM: Message edited by: Y2KSS1363 ]

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