OIL PRICES WILL FALL, JUST HOLD ON

dhalltoyo · Aug 30, 2006

The Energy Department said crude supplies rose 2.4 million barrels to 332.8 million for the week ended Aug. 25, contrary to expectations for a decline. Motor gasoline inventories stocks rose for a second week in a row, up 400,000 barrels to total 206.2 million barrels. Distillate supplies climbed 1.3 million barrels to 136.8 million. Following the news, October crude fell 61 cents to $69.10 a barrel. September unleaded gas shed 2.92 cents to $1.76 a gallon and September heating oil was at $1.93 a gallon, down 1.32 cents.

Enough said!

PS. I am just trying to be an encouragement to my fellow Owner Operators. Remember, I buy the same fuel that you buy. I'll be the first to say that I face the same trials and tribulations that you face. Accurate or inaccurate...let's enjoy the cost savings!

hdxpedx · Aug 30, 2006

JIMMY-DO NOTHING-LIBERAL-CARTER CREATED THE PRESENT "IRAN" AND THEY CONTROL THE PRICE!! PERIOD!! ENJOY TODAY'S HOPE--SANCTIONS ARE COMING AND THEY WILL RESPOND STRAIGHT TO OUR BOTTOM LINE-- AGAIN!!

dhalltoyo · Aug 31, 2006

We are strategically positioned on both sides of Iran.

And we are the greatest miltary power in the world.

One flinch out of Iran and we will squeeze them from the east and the west.

dhalltoyo · Sep 12, 2006

Diesel Average Falls 11 Cents to $2.857

Gas Falls 10.9 Cents to $2.618

Diesel fuelâ€™s average national price fell 11 cents to $2.857 a gallon, the Department of Energy reported Monday.

The national average price for gasoline fell for a fifth straight week, dropping 10.9 cents to $2.618. Prices are down 33.7 cents from a year ago.

The drop in diesel prices is the largest since a 17.8-cent decline recorded Nov. 7, 2005 and follows a 6-cent decrease last week. The price is only one cent higher than a year ago.

Dieselâ€™s average fell in all five national regions. In California, which DOE breaks out separately, the nationâ€™s main trucking fuel fell 5 cents to $3.125.

Meanwhile, crude oil futures dropped 68 cents to close at $65.57 a barrel on the New York Mercantile Exchange. Futures reached $64.85 during midday trading, their lowest level since March 24, Bloomberg reported Monday.

The six-day slide in oil prices, the longest downward streak in about three years, has prompted concern from OPEC, Bloomberg said.

The organization said it plans to maintain current production quotas but may consider supply cuts at its December meeting, Bloomberg reported.

News of rising U.S. inventories and reports that Iran will continue negotiations with the United Nations regarding its nuclear program also spurred the drop in prices, according to Bloomberg.

Each week, DOE surveys 350 diesel filling stations to compile a national snapshot average price.

PS. I just had a driver on I-70 going by the Flying J in Spiceland, Indiana tell me that diesel was $2.59!!! WOW!!!

MDB1 · Sep 12, 2006

I filled up at the Flying J in Walton, KY, at about 12:30 AM this morning. The diesel price was $2.499. Was wishing I had a bigger tank.

Turtle · Sep 12, 2006

People drive me crazy when they talk about how good we have it here compared to the high price of fuel in Europe. "Don't complain about gas prices! In the UK they are paying $8 for gas!" The fact is, people in the US and in Europe pay the same amount for fuel, or more accurately, the same amout to run their vehicle down the road.

In the US, about 20% of the price of fuel is for taxes. In Europe, it's about 80%. If you take out the taxes, you'll find that the cost of fuel is the same. In the US there are taxes that we pay in other areas for other things, like the excise tax on tires, for example, that are just lumped onto the price of fuel over there.

Then news outlets like CNN will run stories every so often about how much more it costs in Europe, telling us that it could be worse. Pooey. That's propaganda in its purest form. If the price of fuel should go to $8 a gallon, just to keep pace with the Europeans, then there are a lot of taxes that would have to be eliminated or shifted from other areas, like tires, auto parts, transmission fluid, batteries, the list goes on. Fuel could cost more, but a lot of other things would cost a lot less.

The scary thing is that there are people in Congress who buy into this crap, and they'd raise fuel taxes without eliminating the excise taxes on all the other items that the Europeans have incorporated into their fuel prices.

Tennesseahawk · Sep 13, 2006

Shhh... they might be listening! You know Congress never met a tax they didn't like.

Toyo... here's another reason prices are going lower. In case you haven't heard, there's an ELECTION coming up.

"If I claim to be a wise man, it surely means that I don't know." - Kansas

garman351 · Sep 14, 2006

RE%3A OIL PRICES WILL FALL%2C JUST HOLD ON

2007 Is going to be another slow down year according to the walstreet journal!

If it gets a slower we will be in a depression.

I'm very concirned and scard of what the future will bring to us all!

Garman351

roadkill · Sep 14, 2006

Sept. 14 (Bloomberg) -- The International Monetary Fund raised its 2007 oil-price forecast 20 percent to $75.50 a barrel, citing the risk of cuts in supplies from major producers as consumption rises.

The projection was raised from the $63 estimated in April, the Washington-based fund said in its semi-annual World Economic Outlook today in Singapore. The IMF's number tops all but one of the 30 analysts' predictions tracked by Bloomberg.

``With spare capacity remaining at very low levels, supply concerns have played a growing role in pushing up oil prices,'' the IMF said in its World Economic Outlook published today. ``A major disruption in a large producer or a further escalation of security concerns in the Middle East could well lead to another upward oil price spike.''

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We will never see prices we saw years ago......thats why we need a push for alternative energy.

dhalltoyo · Sep 14, 2006

Well my friend we just had a missionary from the U.K. visit our church. He had to park his little tiny Morris and start riding a bike. Just as many other Brits do.

I actually lived in Swindon just outside of London and I had bicycle when I was there. Gas was always double when compared to what my friends in the US were paying and I didn't see any of the tax or operating expense reductions that you refer to.

So I guess my missionary friend is lying?

I hope you know better than that.

Turtle · Sep 15, 2006

A missionary who would lie? Heavens, no.

It's not like there will be any remarkable standout pricing difference in the other items, but, for example, when you buy an fuel pump, a portion of what you pay is to recoup the excise tax that the manufacturer had to already pay to the government, and they pass that to the retail end of the sale. It's pretty much across the board with most automotive parts and consumables. Like, an $89.95 fuel pump, $.25 of that may be taxes, an air filter, might be 9 cents, and so on. In most other countries, all of the various taxes are just lumped into one and gets levied at the pump. This is an oversimplification, but it is, essentially, what happens.

Here's a report that better shows the price differential of the gas prices, and the tax differentials of the total price of gas.
http://www.taxpolicycenter.org/publications/template.cfm?PubID=1000845

dhalltoyo · Sep 17, 2006

I saw gasoline at $1.96/gallon.

Diesel was $2.39.

Oh, and as far as your premise about it being an election year and a resulting downward trend in fuel prices, if that were the case then the pharmaceutical companies, the insurance companies and the physicians (All who are accused by whiny liberals of being in the pockets of big business) should also be decreasing their charges. Uh, when was the last time you saw a decrease in your insurance premiums, your prescriptions or a billing from your doctor?

Hmmmmmm?

Next excuse please.

Tennesseahawk · Sep 18, 2006

Oil is a little different from pharmacuticals. Oil (gas) affects everyone that has a car. Pharma is pretty much a fixed price, and unaffected by elections. Toyo... it happened in 04 around this time. Gas prices came down, then went back up in mid Nov. I'm not holding my breath this time, as I expect the same thing to happen.

"If I claim to be a wise man, it surely means that I don't know." - Kansas

garman351 · Sep 19, 2006

It's funny with all the on going problems with big oil since last year with the major hurricanes, bad pipes and the list goes on about repaires that will take years before everything is all better, and before we will see cheaper gas prices

All of a sudden "BECAUSE" the elections are coming up, the price of gas is going way down. It makes me sick how the American people are played as suckers, I for one dont buy this wonderful time we are having with our (temperary) but short lived good times.

Hold your breath and extra cash because, fall is here. The Utility company's are excited we all have some etra cash so we can pay it out in unrealistic heating & electrical bill's.

Thank god the pill People can sell me something that will make me feel all better until they discover my heart & kidney failure was caused by their products.

Garman351
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