Falling gas prices: You're Welcome

[II kings 9:20]

You have me to thank for falling gas prices. I move markets, I buy a stock and it goes down, short it and it goes up. I posted a thread last year "Oil at $90-110 a barrel and to make me look foolish the market has moved the opposite way. At least I did not by oil futures but just posting my thoughts here was enough for the market to move to where it is now. This was actually part of my grand plan as general manager of the universe and reverse psychology worked like a charm.

[Rambit]

Isn't it strange that oil prices have droped 15% and gas prices only 4%. Today oil is under $52 a barrel. Believe it or not, some gas station owners claim to have lost money last year. Some feel they're lagging behind in order to recoup losses from last year.

Again, believe it or not, some economists are predicting oil will fall to around $10 a barrel in the coming years. I don't think gas will fall comensorately though. Thanks II Kings 9:20 for your part in driving oil prices down though!

Rambit

[JimmyBamSlam]

So if is it you we are to thank for bringing prices back down to a reasonable level, then it would be also YOU who is to blame for fleecing the lot of us for the past year and a half!!!

[CplDaugherty]

I also noticed that gas prices hadn't quite dropped the level that oil has, but I didin't know it was an 11% difference! Oh well, I'll take anything right now. I miss back in high school (summer of '99) right before my senior year when gas was 72 or 74 cents a gallon. Those were good times, lol

[srt8danno]

I’ve been trying to locate your address to send you a check for all the money I’ve saved with my two SRT’s on gas lately, but have encountered a problem. For some reason all of my attempts have been returned undeliverable to a state mental institution. I can’t imagine why this would be so…..would you be so kind as to clarify. I’m sure the rest of the members would like to send you something in kind.

Thanks Kings! You’re the best…and I remember the original thread well. Here it is for any new members who didn’t get a chance to read it. And you know all it will take is one crazy act of insanity in the Middle East to spike the prices the other way. So don't give up.

Oil $90-110/barrel

[GEN XER]

Most of what we are seeing is due to unseasonably warm weather on the Eastcoast. I saw 70 degress this past weekend in VA. When the temps stay warm then we use less oil and soon it will be spring, no need for heat in spring right. If the temps stay higher than normal then we should see lower gas prices all the way until this winter. Lets hope global warming keeps things warm and maybe we can recovery from last summers rapefest.

[II kings 9:20]

That global warming thing is scary though. If those ice caps keep melting Florida will be under water.

[srt8danno]

Originally Posted by II kings 9:20

That global warming thing is scary though. If those ice caps keep melting Florida will be under water.

Whatchu Talkin' 'bout, Willis?

Since I live well inland I’m expecting to own beach front property soon…. I’ll be worth millions!!

[Humongo]

Originally Posted by Rambit

Isn't it strange that oil prices have droped 15% and gas prices only 4%. Today oil is under $52 a barrel. Believe it or not, some gas station owners claim to have lost money last year. Some feel they're lagging behind in order to recoup losses from last year.

Again, believe it or not, some economists are predicting oil will fall to around $10 a barrel in the coming years. I don't think gas will fall comensorately though. Thanks II Kings 9:20 for your part in driving oil prices down though!

Rambit

In general, it's because the gasoline that is at the station today was actually manufactured from oil that was purchased on the futures market at a higher price months ago. Depending on how big the original order was, it could have been over a year ago.

In times of declining raw material price, finished goods remain at a dis-proportionately higher market price. However, once the finished product price drops to a proportionate level, any increase in the raw material price will have the opposite effect i.e. the market price would be lower than expected for a higher raw material price.

The unseasonable East Coast winter has kept demand for petroleum products at lower than expected levels. Also, the Gulf of Mexico (GOM field) was uninterrupted this past tropical season and most all of it's production is back on-line from the damage caused by Rita and Katrina.

[Moose]

Originally Posted by II kings 9:20

You have me to thank for falling gas prices. I move markets, I buy a stock and it goes down, short it and it goes up. I posted a thread last year "Oil at $90-110 a barrel and to make me look foolish the market has moved the opposite way. At least I did not by oil futures but just posting my thoughts here was enough for the market to move to where it is now. This was actually part of my grand plan as general manager of the universe and reverse psychology worked like a charm.

First off, you never looked foolish. Let's face it, oil prices were primed to reach your prediction. Now there is all of these "it didn't go up because of????" I'm sure oil has gone up and down because of things we don't even know about, and never will.

I do have to say, I love this so called global warming. The weather is great just about everywhere. It might even slow the people moving to AZ...but I doubt it.

BTW - I'm still with you Kings. We never know what tomorrow could bring.