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$74.54 per barrel

Discussion in 'Members' Lounge' started by awptickes, Oct 16, 2008.

  1. awptickes

    awptickes unimpressed by you VIP

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    We're at 80.10/b so far. Not a good sign. So much of our economy is propped up by the price of oil.

    [​IMG]
    Futures trades are down too, and this only helps the trend. Another pointer to how our economy is getting better, due to the lack of credit. Only people who can afford to spend are spending. Or, as the OPEC board states:

    Anyone else want to talk about this?
     

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  2. Celerity

    Celerity Well-Known Member

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    You forgot the chart that shows the decline of pirates too.
     
  3. B16RacerN2NR

    B16RacerN2NR Working Hard VIP

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    I sure as hell ain't seeing these low prices at the pump...
     
  4. |Chaz|

    |Chaz| Well-Known Member VIP

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    I filled up for $3.28 the other day. Not bad considering it was at $4.28 not that long ago.
     
  5. awptickes

    awptickes unimpressed by you VIP

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    Or did I?


    [​IMG]

    As you can see, pirates aren't declining.... They're inclining. :p
     

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  6. awptickes

    awptickes unimpressed by you VIP

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    That's because the oil refining companies don't like to lower prices dramatically. If the oil suddenly costs less than half of what they were paying per barrel, and they're still charging what it cost them to refine it (let's leave this one be for the sake of the argument) when the price was high, they're making a lot more money.

    It used to cost $150/b, it used to sell in its refined state as $4.60/gal.

    Now it costs $75/b, and it sells in its refined state as $3.96/gal.


    Do you see the potential (ceteris paribus) profit margin here ?
     
  7. GSRCRXsi

    GSRCRXsi Super Moderator Moderator VIP

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    gas has gone down about 50c here. and about 10c just in the past few days. im not complaining.
     
  8. Briansol

    Briansol Admins Admin VIP

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    i saw 2.83 for the cheap stuff this morning
     
  9. George777

    George777 ^^ Likes Bewbies

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    With your mom
    $2.79 Regular
    $3.05 Premium
     
  10. reikoshea

    reikoshea HS Troll...And Mod Moderator VIP

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    $2.90 a gallon for premium this morning...filled up the s2k for less than 30 bucks (had about 4 digi-bars left).
     
  11. Z6CRX

    Z6CRX übber ɐɾuıu etarip

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    [​IMG]
     
  12. Bisimoto

    Bisimoto Single Cam Slam

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    $2.64 what I saw this morning for 87.
     
  13. Capt. Orygun

    Capt. Orygun Win the Day

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    I don't get it, oil goes up and that's bad, oil falls and that's bad?

    Let me give you a hint

    nobody was complaining about not having enough money for groceries because of gasoline in 2000.

    Let it fall
     
  14. eastbxc

    eastbxc Custom User Title

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    i know it sucks paying high gas prices but i would rather pay a little higher and have our economy in better shapw
     
  15. khrisb

    khrisb ******

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    stfu mr. exxon
     
  16. nootrac22

    nootrac22 Well-Known Member VIP

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    don't worry the price will go back up in november. OPECs next meeting is then and they are expected to cut production. Enjoy it while it lasts.
     
  17. reikoshea

    reikoshea HS Troll...And Mod Moderator VIP

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    2.80 for premium this morning :)
     
  18. eg6sir

    eg6sir Supa Mod Moderator VIP

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    mom emailed me telling me there was gas for 2.99 up the street from my house.. woot!.. i know where i'm going..haha
     
  19. Sabz5150

    Sabz5150 FALCON PUNCH!!!

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    You've got it a bit mixed up there... the issue is that when oil prices jump, gas prices are right behind. When oil prices fall, we hear about refining costs and damaged pipelines.

    Translation: "You're our bitch and you'll enjoy it, bitch."
     
  20. Sabz5150

    Sabz5150 FALCON PUNCH!!!

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    Our local grocery store has a program called "Fuelperks" which gives us 10 cents off every gallon of gas for every 50 bucks we buy in groceries. Good thing is that it's cumulative (until you use it, then its back to zero, waiting to be refilled again). Right now we've got a little over a buck off of gas, so I'm gonna fill up for somewhere around $1.98/gal. tomorrow :D
     
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