Price of Gas...this is a joke.

SPF2245 · #1 (**permalink**) 10-06-2008, 12:03 PM

OK, an artical on CNN shows the price per barrel 40% below the highest price in July ($88 bucks from $147), the price of gas...down 15% ($3.50 from $4.11). OK, not even taxes, deliveries or any other BS excuse can explain WHY we're being raked over the coals like we are at the pump other then greed. What's worse is less then a year ago, with the current cost of oil per barrel, I paid $2.50-2.70 (I found some old reciepts). Today, I just spent $3.29...and no, our taxes have not been raised.

http://money.cnn.com/2008/10/06/markets/oil/index.htm

Oh well, I heard a couple customers talking at the station today talking about how nice the lower prices were. I ended up laughing at how we the public have been screwed again and made to feel like Big Oil is our friends.

jhv48 · #2 (**permalink**) 10-06-2008, 12:42 PM

This is how the oil companies get us to pay higher prices.

They raise the price till we squawk real loud and then drop it to a level that is substantially higher than it was originally but lower than our squawk level.

Thus when they drop it a few cents, we are relieved and don't complain any longer.

Then they just sit back and laugh their ass off at the dumb American consumers.

gt500bill · #3 (**permalink**) 10-06-2008, 12:42 PM

Saw a station last night outside of Houston at 2.99 for regular....

saltshaker · #4 (**permalink**) 10-06-2008, 01:12 PM

I found gas at a gulf station for $2.93 today

BeanCounter · #5 (**permalink**) 10-06-2008, 02:10 PM

Gas is $2.83 in Independence, MO.

nevermind65 · #6 (**permalink**) 10-06-2008, 04:52 PM

Oil at $89/barrel. Shouldn't gas be in the very low $2/gal range? Oh yeah...when there is an increase in oil prices, the pump price goes up in 15 minutes. When there is a decrease in oil prices, it takes 6 weeks to be reflected at the pump.

I forgot about that "theory".

Smokingcobra2 · #7 (**permalink**) 10-06-2008, 05:53 PM

My future son inlaw trades oil in nyc. Back in July he told me they had pushed the price as high as it was going to get and in three months you would see gas under 3.00. Now he is telling me oil will got to around $80.00 a barrel then stop.
joeg

FWB · #8 (**permalink**) 10-07-2008, 09:59 AM

give me his address so i can pay him a visit.

Smokingcobra2 · #9 (**permalink**) 10-07-2008, 10:10 AM

I was always busting his butt about the prices. At the time he was only training to be a broker. He started full time trading Oct 1sr and many are taking a beating from the lower prices and no one making any trades.
He agrees it should be regulated more, but Wall st pays millions for lobbyist to stop that from happening and many past Senators etc are paid lobbyist so it wil never happen
joeg