Getting back to 100$ a barrel

[Clay Henry]

Oil Tumbles Below $103 as Hurricane Ike Weakens - FOXBusiness.com

[vitalidle]

I hope this trend lasts for awhile!

[stroken04]

Originally Posted by CHenry

Oil Tumbles Below $103 as Hurricane Ike Weakens - FOXBusiness.com

its about time

[Clay Henry]

I saw diesel for 3.82 last week...i still had a quarter tank so i decided to wait to buy any in hopes the pump price would follow suit with the declining barrel prices but i don't see it happening very fast?

[willholl79]

It's still in the 4.10-4.30 range here in GA.

[vitalidle]

Yeah Im paying $4.34. It sure has been slow to come down at the pump!

[Matt P]

That will be nice its 3.99 here by Purdue

[tech10002]

Isn't it funny how as soon as anything happens, whales humping sideways, the wind blows backwards, Al Gore gets a pimple... that oil jumps up 10 bucks and gas/diesel IMMEDIATELY soars. Then oil goes down 30% and it takes 6 weeks for gas to go down 10%.

[Lonno]

Barrel prices are FOB Saudi Arabia. How long do you think it takes to ship overseas, refine and get to the pumps. Prolly like 90 days. So, prices should not dump on Tuesday just because the barrel prices came off on Monday. But if you flip the coin, when they raise the price immediately, their banging us like a screen door in a hurricane.
Dave

[tech10002]

The transit time doesn't make any difference. The price they pay for crude is strictly based on the commodity market and is instant. What really adds insult to injury is the oil companies are not really paying that much for the oil. Oil trades at whatever the most expensive barrel of oil cost.