Oil Prices Drop...

[CraigSca]

...for the 3rd day in a row. If this continues, how quickly do we get back to the good ol' days of buying SUVs and having the windows down and the air conditioning on in the car?

Just sayin' - rather than blame the politicians, take a look in the mirror.

[Noop]

Hey man. I am still paying a lot for gas. This drop is just a temporary thing.

[molson]

Our gas prices still don't reflect the jumps in oil of the last month or two

[Coder]

Look.. you guys have to understand.. when the oil prices drop, the Gas companies unfortunately had just bought a whole load of oil at the higher price, which they have to sell first.. right!?

Then.. if they price goes up again, they'll have to keep the hig gas prices, because well.. duh... the oil prices are high, and unfortunately, due to their reserves being so high, they never bought any oil while the price was low.

Like.. DUH.. ;-)

[duckman]

Originally Posted by Coder

Look.. you guys have to understand.. when the oil prices drop, the Gas companies unfortunately had just bought a whole load of oil at the higher price, which they have to sell first.. right!?

Then.. if they price goes up again, they'll have to keep the hig gas prices, because well.. duh... the oil prices are high, and unfortunately, due to their reserves being so high, they never bought any oil while the price was low.

Like.. DUH.. ;-)

Actually, those contracts get resold a lot, so it's conceivable for many of those contracts of being sold. Now, the oil companies will not be a huge hurry to drop their prices because they want to maximize profits before slowly bringing prices down.

[Philliesfan980]

Duckman is right, it's going to take probably a two week downturn to see any noticeable price drops around here.

[Philliesfan980]

Originally Posted by CraigSca

...for the 3rd day in a row. If this continues, how quickly do we get back to the good ol' days of buying SUVs and having the windows down and the air conditioning on in the car?

Just sayin' - rather than blame the politicians, take a look in the mirror.

Actually, you raise an interesting point. Some people are speculating that oil prices will actually go back down to $80-$100 in the fall. At those prices, I wonder if people will still use oil recklessly.

In the past, I made a lot of wasteful, unnecessary trips. Once oil hit $3.50, I began to really look at how I was using my gasoline. Even if oil does go down to materially lower levels, I would hope that I would continue conserving as I am today, but I'm not sure if the same can be said for the rest of the country.

[Galaxy]

I guess the nice part is the new MPG regulations that will be in place by 2020.

[Mizzou B-ball fan]

Originally Posted by molson

Our gas prices still don't reflect the jumps in oil of the last month or two

We had a 15 cent drop in price last night. I've certainly seen it.

[st.cronin]

Prices have definitely been ticking down around here. Its possible to find gas at 3.75 or so.

[CraigSca]

I know it's not instantaneous, I never said it was it was. My question was more hypothetical. If this trend is to continue and gas prices were to fall with the price of oil, how quickly will we all become the gas-guzzling people we've been since the last "crisis" in the 70's?

[flere-imsaho]

A change in the price of gas is instantaneous when the price of oil goes up (or there's trouble in the Middle East, or a hurricane shuts down some refineries, or a gas truck gets in an accident somewhere, or an oil exec sneezes).

A change in the price of gas is very delayed, and may not even happen, when the price of oil goes down.