I filled up my vehicle and noticed that gas prices are down a pretty good amount!
That is good for all!
Gas prices starting to drop!
Moderator: Aitrus
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ventilator
- Posts: 73
- Joined: Mon May 09, 2011 9:15 am
Re: Gas prices starting to drop!
At first I thought this was directly related to Spain's recession and China's slowing down but prices don't drop that fast for fuel at the pump so the government changed something a while ago that is now starting to take effect. I just don't know what it was.
Re: Gas prices starting to drop!
Didn't we hear predictions of $5 a gallon gas this summer? Could it be that speculation has decreased? I think we need to get below $3.50 for the American public to feel better about spending their money. If we could see a summer of $3.29 or lower, we'd have the market rocking by fall.
Re: Gas prices starting to drop!
Speculation happens quickly and it responds to expected economic demand for oil, not just the US. Also, if the refineries have come back on line after reformulating for summer driving, then the production delay can meet demand. We do not have a limitation of unrefined oil.
Seek Wisdom where it can be found.
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skiehawk11
- Posts: 2116
- Joined: Wed Jan 05, 2011 2:32 pm
Re: Gas prices starting to drop!
TSPKip wrote:Speculation happens quickly and it responds to expected economic demand for oil, not just the US. Also, if the refineries have come back on line after reformulating for summer driving, then the production delay can meet demand. We do not have a limitation of unrefined oil.
You touched on an important point Kip. Also, I know many traders who play the refinery switching in spring. Pretty easy profit taking.
Fund Prices2024-04-26
| Fund | Price | Day | YTD |
| G | $18.21 | 0.01% | 1.36% |
| F | $18.63 | 0.27% | -3.10% |
| C | $79.85 | 1.02% | 7.38% |
| S | $78.29 | 0.78% | 1.55% |
| I | $41.48 | 0.50% | 3.22% |
| L2065 | $15.89 | 0.80% | 5.08% |
| L2060 | $15.89 | 0.80% | 5.08% |
| L2055 | $15.89 | 0.80% | 5.08% |
| L2050 | $31.87 | 0.68% | 4.13% |
| L2045 | $14.54 | 0.64% | 3.94% |
| L2040 | $53.14 | 0.60% | 3.78% |
| L2035 | $14.04 | 0.55% | 3.58% |
| L2030 | $46.78 | 0.50% | 3.41% |
| L2025 | $13.02 | 0.29% | 2.45% |
| Linc | $25.43 | 0.23% | 2.10% |