Lower Gas Prices Coming Soon - Oil Prices Drop $1 Per Barrel

[southerngale]

Oil prices fell as much as $1 per barrel Friday after Saudia Arabia said it will raise its daily production quota by 2 million barrels, or 8.5%. It will probably be July before we see much relief.

http://news.yahoo.com/news?tmpl=story&cid=509&u=/ap/20040521/ap_on_bi_ge/oil_prices_6&printer=1

[Brent]

Every little bit helps I guess.

[weatherluvr]

Bah. You know we won't see lower prices anytime soon, because lower oil prices take awhile to reflect on pump prices. But whenever there's even a hint that oil prices are climbing-- instant price increase.

Case in point: THE DAY AFTER Saddam invaded Kuwait in 1990, pump prices went up 15-20 cents.

[LMolineux]

Bah. You know we won't see lower prices anytime soon, because lower oil prices take awhile to reflect on pump prices. But whenever there's even a hint that oil prices are climbing-- instant price increase.

Case in point: THE DAY AFTER Saddam invaded Kuwait in 1990, pump prices went up 15-20 cents.

Correct. Couldnt of said it better myself

[Stormsfury]

Bah. You know we won't see lower prices anytime soon, because lower oil prices take awhile to reflect on pump prices. But whenever there's even a hint that oil prices are climbing-- instant price increase.

Case in point: THE DAY AFTER Saddam invaded Kuwait in 1990, pump prices went up 15-20 cents.

It's big business ... and they are definitely sticking it to us ...

[Brent]

I don't expect to see it go down til after July, BECAUSE of the summer travel season. High demand. 31 million are expected to drive at least 50 miles for Memorial Day weekend.

[LMolineux]

This year they expect a complete record high in driving.

[Josephine96]

I saw a gas station here today that's charging $2.30 for premium..

The highest unleaded price here is 1.99..

[wx247]

Gas dropped here today to $1.92 from $1.94. Woo hoo!

[azsnowman]

YEAH RIGHT! We've PROVED to the dam OIL COMPANIES that we Americans are willing to pay ALMOST ANY PRICE for gas, why SHOULD they drop the price?

Dennis

[Brent]

YEAH RIGHT! We've PROVED to the dam OIL COMPANIES that we Americans are willing to pay ALMOST ANY PRICE for gas, why SHOULD they drop the price?

Dennis

Sadly, your right.

You sure the dropping 2 cents wasn't an illusion?

I've noticed prices haven't gone up here in a week. Watch it go up now that I have said something.

[rainstorm]

Bah. You know we won't see lower prices anytime soon, because lower oil prices take awhile to reflect on pump prices. But whenever there's even a hint that oil prices are climbing-- instant price increase.

Case in point: THE DAY AFTER Saddam invaded Kuwait in 1990, pump prices went up 15-20 cents.

It's big business ... and they are definitely sticking it to us ...

there is no evidence oil companies are sticking it to us. if there is what is it?. who is sticking it to us? dems and enviros. domestic drilling blocked. no new refineries. and a multitude of gas formulas mandated by the epa.

[rainstorm]

YEAH RIGHT! We've PROVED to the dam OIL COMPANIES that we Americans are willing to pay ALMOST ANY PRICE for gas, why SHOULD they drop the price?

Dennis

2 points. if oil companies controlled the price of gas, why would they ever let the price drop?
second: if oil companies love bush, why would they raise prices. get people mad, and make people mad at bush.
the fact is, supplies are tight due to speculation based on world events, tight supply, no drilling, a multitude of regulations, and a growing economy here and in china.

please, someone give some evidence that oil companies are "sticking it to us"

[Derek Ortt]

We are also prevented from drilling in Alaska thanks to the vermon known as the Democratic party; thus, keeping prices artifically higher than they should be

[weatherlover427]

I saw $2.60+ prices today. Really, honest to goodness truth.

[Brent]

We are also prevented from drilling in Alaska thanks to the vermon known as the Democratic party; thus, keeping prices artifically higher than they should be

I was waiting for someone to say that... Thank you. You know they want us to open up the Louisiana reserves(which is there for emergencies, AKA, we run out of gas), but don't want us to drill in Alaska.

[timNms]

I was watching Fox News yesterday and a couple of the reasons given for the prices not going down rapidly was
a) USA and China's demand for gas
b) Lack of refineries to produce the summer blends required by many US cities. It was stated that there were so many blends that had to be made for different areas and only one blend at a time could be made in any particular refinery.

[rainstorm]

I was watching Fox News yesterday and a couple of the reasons given for the prices not going down rapidly was
a) USA and China's demand for gas
b) Lack of refineries to produce the summer blends required by many US cities. It was stated that there were so many blends that had to be made for different areas and only one blend at a time could be made in any particular refinery.

exactly tim, all due to the epa and the enviros. and, while i expect gas prices wil be dropping, in the long run it has to get worse. if you want to place blame, the dems and enviros deserve it big time. it takes years to build a refinery and in the meantime the regulations are only going to increase. the next gas spike will be even worse. shortages and lines are in our future. ita not oil companies fault, and its not opecs fault. the fault lies with us.

[Stephanie]

Alaska SHOULD BE off limits.

We need to continue to develop alternative fuel sources. More and more models should be developed as a hybrid.

If the oil companies REALLY wanted to work with the cities in promoting cleaner air via producing summer blends of gas, they would've invested in creating new facilities to make multiple blends. It's not like these summer blends were just recently requested.

IMHO, it's all about greed.

[azsnowman]

I was watching Fox News yesterday and a couple of the reasons given for the prices not going down rapidly was
a) USA and China's demand for gas
b) Lack of refineries to produce the summer blends required by many US cities. It was stated that there were so many blends that had to be made for different areas and only one blend at a time could be made in any particular refinery.

exactly tim, all due to the epa and the enviros. and, while i expect gas prices wil be dropping, in the long run it has to get worse. if you want to place blame, the dems and enviros deserve it big time. it takes years to build a refinery and in the meantime the regulations are only going to increase. the next gas spike will be even worse. shortages and lines are in our future. ita not oil companies fault, and its not opecs fault. the fault lies with us.

Why is it OUR fault? I don't quite get it If ANYONE is to BLAME, look to our illustrious president and his OIL BUDDY Dick Cheney Yes....I'm starting to rethink my position on BUSH, for MANY reasons, not just the oil fiasco!

Dennis