Price of oil lowest in 1 1/2 years.

[demosincebirth]

Why in the hell is the price of gasoling going up? Does anyone have an answer?

[nadinbrzezinski]

1. because they can

[Heewack]

2. Gasoline is in a slide too.

At least 10 cents over the past week in futures prices.

[demosincebirth]

5. The price of a gallon of gas at 2.69 at the local Shell

and hasn't dropped in a while, while I see the price of oil dropping.

[Heewack]

11. It will come down.

The inventories have been pretty high on gas, but that was all purchased at higher prices. In the coming weeks it will slide further.

[louis-t]

13. Down to $2,06 here. Has anyone noticed..

Anytime alternative fuels gain momentum (ethanol, Chevy's new Volt model at Detroit Auto Show), gas goes down.

[WilliamPitt]

6. Yesterday's news had it going up a penny a day

[rurallib]

3. It's the trickle on theory

Oil companies can trickle on us as they please.

[louis-t]

12. Archie Bunker called it "Tinkle Down"

Ahem.

[WilliamPitt]

4. Oil is going down because of the warm weather everywhere.

No one is buying heating oil.

Gas is going up because, damn, they have to make their profits somewhere. What are you, some kind a commie?????

[demosincebirth]

7. You're close

I am a Socialist

[jpak]

8. US fuel oil consumption is down by 1/3 this season compared to the average

A lot of folks in NE are getting screwed 'cause they locked into long-term fuel contracts assuming last summer's high price of crude (~$78 per barrel) would carry into the heating season.

Some people are making out...like...well...bandits...up that way...

[Pugee]

9. Gas went down overnight Sat from $2.19 to $1.99 in the nearby city.

However, it is still $2.19 here in rural MO

[Broken_Hero]

15. it was 2.05

sunday night here, in rural sw missouri....its dropping some...around xmas time, it was 2.15

[ChairmanAgnostic]

10. CELEBATE! CELEBATE! DANCE TO THE MUZACK!

Hi ho, hi ho, gas profits will still grow,
hi ho hi ho hi ho hi ho HI HO, hi ho,

Nigerian revolution
Sudanese disaster
Venezuelan nationalization
Iranian Invasion
IraqNam disaster

[Warren_Peas]

14. Its simple really

When there is a 'shortage', prices must rise to meet the demand.

Now we have a 'glut' and we must raise prices to compensate the loss of revenue caused by the lack of driving.


Its a shame that 'libruls' dont understand how much the wealthy need their money.


mq

[newyawker99]

17. Hi Warren_Peas!!

Welcome to DU!! :toast:

[DinahMoeHum]

16. It's not getting cheaper, it's getting more volatile.

All it needs is one incident spark in Iraq and it could skyrocket again.

:evilfrown:

[radfringe]

18. Why in the hell is the price of gasoline going up?

because a cat in East Underwear Utah had kittens.. - that's all the excuse they need

[taylorgood24]

19. Profits at the highest in years. Will they report on that also?

We need to add to the government funding base for war in Iraq by imposing a huge windfall tax on the oil companies.

[VelmaD]

20. no....we need to increase the funding base...

for important programs here in the US by imposing a huge windfall tax on the oil companies. We need to stop spending money in Iraq and get our troops the hell outta there before one more dies.

[Javaman]

21. See that was all part of morons* master plan!!

He* knew that global warming would heat up the earth and he also knew that the war would increase the price of oil, so what to do, he* thought.

Bingo!! like a lightening bolt from the sky, let global warming go crazy!!! it will cook the earth and the need for heating oil will go down!!! Brilliant!!! sheer unmitigated brilliance!!!!

---

Oil is going down due to the bizarrely high temperatures being experienced across the nation and caping a trend of one record hot year after another. Global warming is real. It's here to stay.

The down side to all of this is, as the price of oil goes down, gas at the pump will drop, causing more people to drive. Thus, putting more C02 into the atmosphere and as a result accelerating global warming. I have always cheered on the high oil prices, because humans won't do anything unless they are forced to do it. High prices at the pump where forcing people into looking for other options. So now that the price at the pump is going to go down, the level by which people would conserve, change to alternative energy, buy a hybrid, etc, will drop.

The mouth breathers out there are currently enjoying the "summer-like" weather. I don't even want to think about what the real summer temperatures are going to be like if it's this hot now.

We are that dumb as a race.

[RB TexLa]

22. I wish I were extracting my oil myself, I'd shut the pumps off until the price

went back up. I thought we could hold some more of the increase, but oh well.