Oil is dropping again today

[RostyC]

Down a little over 3 bucks to 116 and change in the first hour of trading.
If diesel hits 4 bucks a gallon some day it's time to freakin party.

[Twilight Flyer]

If diesel hits 4 bucks a gallon some day it's time to freakin party

Actually, that's what they want. Get it down to the mid-2's and then we can all party.

[Rev.Vassago]

Down a little over 3 bucks to 116 and change in the first hour of trading.
If diesel hits 4 bucks a gallon some day it's time to freakin party.

I paid $4.01 at the TA in Matthews, MO earlier this week.

[RostyC]

I just paid 4.49 today. I have a ways to go till party time. I'm afraid by the time I see 4 bucks the pool will closed and it'll have to be an inside party.

At least it's coming down though. It's the only way we'll start to recover the economy. Well that and the next housing bubble.

[Creek Jackson]

If diesel hits 4 bucks a gallon some day it's time to freakin party

Actually, that's what they want. Get it down to the mid-2's and then we can all party.

I agree. You know the oil giants have you by the balls when they are still squeezing and you're happy.

And don't forget this is an election year. Everything is going to start to look rosy come voting time. And the politicians will be hollering,,,,,,,,,

Look what I did!! Look what we did!!!!

What a bunch of bunk! :?

[GMAN]

If you look back at oil prices when the politicians start yelling at investigating and putting more laws concerning their profits prices start to go down. The investigation talks stop and everyone is extactic because prices have dropped. They don't usually drop down to the level they once were, but it seem like a bargain from where prices topped.

[BigDiesel]

Hitting $117 a barrel is a magic number. That is when institutional trades programed into computers start to sell off.

[RostyC]

We're at 115 even, down 5.02 on the day. I'm going outside to start all my trucks and rejoicing.

BigD, could you elaborate a little on your statement above about institutional trades, I've never heard of that. By institutional do mean hedge funds and investment banks? If so I guess what you're saying is that they program a computer to start automatically selling at a certain price. I didn't know that's how it worked. I wonder how fast they program them to sell off? Why was 117 a magic number? I haven't read anything anywhere like that.

[BigDiesel]

We're at 115 even, down 5.02 on the day. I'm going outside to start all my trucks and rejoicing.

BigD, could you elaborate a little on your statement above about institutional trades, I've never heard of that. By institutional do mean hedge funds and investment banks? If so I guess what you're saying is that they program a computer to start automatically selling at a certain price. I didn't know that's how it worked. I wonder how fast they program them to sell off? Why was 117 a magic number? I haven't read anything anywhere like that.

You answered your own question.... :wink:

I read about the 117 number a couple of days ago somewhere on bloomberg and a talking head on Fox Biz network said the same thing. It is also significant beacuse the oil bubble is bleeding.

[RostyC]

Well son of a gun, I'm on fire today!
I go to Bloomberg a lot myself, I musta missed it though.

BTW, got my Willamette package today. 8)
now we'll see if it's RostyC proof.

[Mr. Ford95]

I heard the same thing about that magic number before a computer starts selling off the oil futures but it was in a AP write-up in my local paper. Said we were right against the threshold before the computers kicked in and started selling off everything.

[RostyC]

I heard the same thing about that magic number before a computer starts selling off the oil futures but it was in a AP write-up in my local paper. Said we were right against the threshold before the computers kicked in and started selling off everything.

That's interesting Ill have to look into this computer thing that's news to me.

[RostyC]

Well we're down to 113 and some change. Keep sliding baby!
The other day I put about 50 bucks in my p/up to top it off, I've only been getting about 40 bucks worth at a time as it's falling. Anyway next day diesel was 10 cents cheaper. That pi$$ed me off big time. :twisted: It's still 4.29 a gallon around this area.

[RostyC]

Hold on to yourselves here we go again.
I did find this article a little while ago that I thought was pretty interesting.
Article

[shyykatt]

So someone explain to me please;
How is it that gas prices at one station is x amount, then a block or two up the street its like 10, 20+ cents higher?? Why cant they all be the same at least! grrr :?

[VitoCorleone99]

So someone explain to me please;
How is it that gas prices at one station is x amount, then a block or two up the street its like 10, 20+ cents higher?? Why cant they all be the same at least! grrr :?

Usually, it's that the one up the street has a higher mortgage payment on the property. There was some study not long ago concluding that (shocker here) gas stations by the freeway charge more for gas. People made the leap that they were scamming drivers, but I guess nobody thought that a corner lot off exit 20 probably costs the gas station twice as much as a lot at the corner of Bob's Road and Elm Street. Same reason you pay $15 for a glass of wine in Manhattan.