Oil today settled at US$129.29, the first time below US$130 in more than a month. The last three days combined created a record price decline. Hopefully this continues:

http://money.cnn.com/2008/07/17/markets/oi...sion=2008071715

Oil prices are falling again today! Woohoo! As of this moment, it is down nearly $4 a barrel!

Well T. Boone Pickens is declaring $300 oil in 10 years if nothing is done.

I know he is pushing his wind project, but just seems like he has to have an agenda. Ive seen national adds and everything for his plan. He is a business man and I cant believe he is just trying to get support behind his wind project.

About Mr. Pickens and his, uh, bag of wind:

http://money.cnn.com/2008/07/22/news/econo...sion=2008072215

Just last Saturday it was $3.92 at the Speedway and Shell by KI, and at some gas station near downtown Cincinnati, it was $4.69!

I don't know if anyone has posted this or not (because I don't feel like searching) but at least we don't live in Europe...

http://www.eia.doe.gov/emeu/international/gas1.html

About Mr. Pickens and his, uh, bag of wind:

http://money.cnn.com/2008/07/22/news/econo...sion=2008072215

I see no problem with someone putting his money behind something that he is speaking about.

In fact, I think that it even speak better of Pickens that an Oil man is monetarily supporting alternative energy.

Yes, but Europe has a completely different tax code and it's not really comparable to what's going on here in the U.S. Their tax on gas pays for more than just the costs to pay for the oil and refinement.

And at least for a while, now we are heading down: Oil settled today down US$4.82 at US$115.20 a barrel, lowest close since May 1.

Demand is down in the U.S. for oil, which helps gas prices now. However, relentless growth in China and India will keep prices above $3 a gallon forever.

And the fact that the U.S. dolllar is falling in value faster that President Bush's approval rating doesn't help costs at the pump either.

Well that has all but certainly happened, lets just hope it doesn’t drop further to the even lower congress approval rating.

If you mean the president's approval rating, let's leave the politics about all of this out before y'all get me yet another of my way too many threads closed! If you mean the price of oil, I'd hope it would fall to the same price that Mr. Kinzel seemed fascinated with earlier this year (but not so much now), mere nickels!

I was quite excited to pay $3.65 a gallon on Thursday. Who would have ever thought ya would be excited to pay $3.65.

And the fact that the U.S. dolllar is falling in value faster that President Bush's approval rating doesn't help costs at the pump either.

Be careful when you insert politics into conversation.

The dollar has actually been slowly gaining back lost value...it's up against the Euro to its highest level in six months. The Yen and GBP have also fallen to the dollar over the past year or so.

I too filled up yesterday...for $3.59 a gallon...who hoo!!!

Oil is currently down almost $9 a barrel! WOOHOO! Keep going down!

$9 per barrel? $108.53 is more like it. Although, $9 would be nice....I just filled my car up for 50 cents!

^I think your confused iChase.

Whodey said that "oil is down $9 a barrel" not "oil is down to $9 a barrel"

Ah okay, you're right, I added a "to" to his sentence. Stupid cold medicine. Sorry WHODEY.

$9 per barrel? $108.53 is more like it. Although, $9 would be nice....I just filled my car up for 50 cents!

You may want to read a little closer next time before you troll. Crude is now down $6.58 a barrel.

Troll? Hardly. Besides, I apologized.

I use exactly 1/8'th of a tank a day in my 05 Dodge Ram...About 90 dollars a week...takes two transactions since my check card is only allowed to go up to 75....the fact that I can't find a job is making it hard for this poor college kid.

$9 per barrel? $108.53 is more like it. Although, $9 would be nice....I just filled my car up for 50 cents!

You may want to read a little closer next time before you troll. Crude is now down $6.58 a barrel.

Excuse me, he apologized to you for misreading your statement, you may want to read the entire amount of posts before you hurl an insult at somebody and I'd really watch who you call a troll.

^^^ some people might think you're talking about a family member...

Didnt oil drop to just above $100 a barrel. If oil prices are coming down how come gasoline isnt?

Didnt oil drop to just above $100 a barrel. If oil prices are coming down how come gasoline isnt?

Because although, the price of Crude has gone down, the cost of refinement is near an all time high. Also Demand has peaked back up with lower prices. This creates an equilibrium price between the supply and high refinement costs with gasoline overuse due to lowering prices.

Remember consumer gasoline price relates to Crude, Refinement, and supply and demand.

Crude prices for the most part are controlled by supply and demand, and the cost of drilling. You basically take one of the criterion away from the price adjustment. Not to mention Gasoline price also includes a tax, which varies from time to time, usually directly related to supply and demand.

Its more complicated than this...but this is the basic summary, I hope it helps somewhat!

Lately I've seen gas dropping, slowly but surely.

Every morning as I take the bus to school I glance at the gas price at the local Gas America, sometimes on the way home from school it's changed as much as $0.05 in either direction, although on one freak occasion I did see a 20 cent drop, which I'm guessing was a mistake in putting the prices up.

And today, oil prices fell US$1.66 to settle at US$106.23 a barrel, their lowest level since April 3.

Yet the Speedway by my house raised their price by .25 today.

Spent $3.34 per gallon on Thursday. I see my last post on here was 08/09 and that I spent $3.65 then. So in less than a month it's fallen .31 cents? Wooo Hooo!

Didnt oil drop to just above $100 a barrel. If oil prices are coming down how come gasoline isnt?

http://seattletimes.nwsource.com/html/busi...priceqa050.html