GAS

[SPURSX3]

Gas actually went under 2.00 here yesterday...how long until they stabilize the price?  To think we almost hit 5.00 a gallon because of speculation.  Has the price dropped as much where you all live? 

[jemagee]

"as much" - i suppose - but it's still 3.11 a gallon for the cheapest stuff

[rickortreat]

I've seen gas as low as 2.58 in Phila. suburbs.

On a technical basis, the decline in the price of oil is directly related to the rise in the dollar, which is based on short-term demand to settle derivative contracts, and not based on the strength or soundness of the US economy.

The Dollar is overbought on technical terms, but keeps going up, which implies the buying is forced.  The Chart tells me to get ready to short it, just like a stock, but it also tells me, NOT YET!

This process is making all commodities cheaper, and you should be getting ready to take positions in them, once the dollar starts falling again.  Since the Dollar started it's decline the largest price increase in any commodity has been oil.  With the world economy faltering, it's not clear that will continue.  If the world goes into recession, Gold will be the best thing to be in by far, and it is currently at bargain prices.

If I am right about this, Gold should be above 1600 by 2011.  That means a 100% increase from current prices in 3 years. That's a great return for the average investor, especially in bear market.

[westkoast]

Gas actually went under 2.00 here yesterday...how long until they stabilize the price?  To think we almost hit 5.00 a gallon because of speculation.  Has the price dropped as much where you all live? 

Wow really?  I saw gas dip to 2.98 this weekend and I almost crapped my pants.

What is funny is that people in California we SCREAMING about it being 4.40 at one point in time because in the summer we have a special blend that makes our gas 20-30 cents more expensive.   People were jumping on public transportation and traffic really died down a lot.  Then as soon as the gas price dropped the Hummers come back out and the traffic swells to the point where its added 25 minutes to my commute within the last month or two.

[ziggy]

Gas actually went under 2.00 here yesterday...how long until they stabilize the price?  To think we almost hit 5.00 a gallon because of speculation.  Has the price dropped as much where you all live? 

I live in Central Oregon, about 2-1/2 hours SE of Portland.  Regular unleaded is about $3.17 a gallon, but in Sandy (about 90 miles away, on the way to Portland) it is $2.49.  I have a friend who has been visiting his dad near Branson, Mo. gas has been between $1 and $1.25 a gallon less than here for several weeks.

[jn]

I saw it as low as $2.19 in the burbs around here.  I got a tank in town for $2.39.

[Skandery]

Its about 2.40 for Regular Unleaded.  I still have to get the Premium (freakin' Germans) at 2.70.  And I still consider that to be too much as I remember just 3 years ago on our long drive to San An and Padre Island, thinking 2.25 was astronomical. 

Price of gas is not only a factor of the drop in price of the oil commodity but the fact that the election is around the corner.  Price of gas goes down every election cycle.  Who wants to bet there will be at least a 10% increase in gas prices during the month after Nov 4. 

I'm surprised I haven't read of people buying it and storing it for re-sale at a later date.  I wish I had the facilities.

[westkoast]

I'm surprised I haven't read of people buying it and storing it for re-sale at a later date.  I wish I had the facilities.

I take it you don't watch 'Its Always Sunny in Philadelphia'

[jemagee]

I take it you don't watch 'Its Always Sunny in Philadelphia'

It's an admirable quality in people...

[westkoast]

I take it you don't watch 'Its Always Sunny in Philadelphia'

It's an admirable quality in people...

It's just a tv show.  Don't worry I think people are smart enough to realize that the 5 knuckle head CHARACTERS on the show are not a direct representation of the fine people of Philly.

[jemagee]

Oh no, it'd be a crappy show whatever city it was supposed to represent - FX does such good dramas it's a shame their 'comedies' are so terrible

Though I liked the one about the people with eating disorders

[SPURSX3]

I'm surprised I haven't read of people buying it and storing it for re-sale at a later date.  I wish I had the facilities.

I take it you don't watch 'Its Always Sunny in Philadelphia'

FREAKIN HILARIOUS SHOW!

[rickortreat]

Its about 2.40 for Regular Unleaded.  I still have to get the Premium (freakin' Germans) at 2.70.  And I still consider that to be too much as I remember just 3 years ago on our long drive to San An and Padre Island, thinking 2.25 was astronomical. 

Price of gas is not only a factor of the drop in price of the oil commodity but the fact that the election is around the corner.  Price of gas goes down every election cycle.  Who wants to bet there will be at least a 10% increase in gas prices during the month after Nov 4. 

I'm surprised I haven't read of people buying it and storing it for re-sale at a later date.  I wish I had the facilities.

Good idea, but impractical since gas is very expensive to store properly.  And the EPA comes after anyone with a gas tank, because they eventually leak, and then they demand that you remove the tank and decontaminate the land (which is why you see so many boarded-up gas stations)

Anyone can try to hedge their future fuel expenses by participating in the future's market.  You can lock in the current price for future delivery and if the price rises, you make out by selling the contract for more than you bought it. But the only commodities you should hold directly are ones that don't decay over time. 

[atom2030]

If you're interested in the international view, this is the EURO side of the problem:

here in (Central) Europe we're almost going below ? 1,- (1 Euro) per LITER again (which equals, as you know, ? 3.8 - or US$ 4.8 - per gallon), for the first time in at least a year and a half.

2 months ago we were close to ?1.6 per LITER, and in combination with a EUR/US$ exchange rate of 1/1.6 a gallon was around US$ 9.7 then.


But of course, the average car (like mine) in Europe has a fuel consumption of just 7l/100km, which equals around 36 mpg. So we're paying more for but using some less gas ...

[westkoast]

Oh no, it'd be a crappy show whatever city it was supposed to represent - FX does such good dramas it's a shame their 'comedies' are so terrible

Though I liked the one about the people with eating disorders

Sons of Anarchy and The Shield are both really good shows.

I think Its Always Sunny is hillarious though I have to agree that this year hasn't been quite as funny as the previous years.  Its brainless humor.  I take it for what it is and throughly enjoy it.