With the price of oil dropping...

will U.S. consumers go back to dealers and buy the now "cut-rate" priced trucks and SUVs moldering on lots?

It's not going to drop that far...

Yes. It's the American way.

is it dropping? I have been away from the news recently.. I did notice that gas has not gone up though. It's not going down, but it at least stopped going up

mad_machine wrote: is it dropping? I have been away from the news recently.. I did notice that gas has not gone up though. It's not going down, but it at least stopped going up

Crude has dropped $17 in the past week. It's $128/bbl at the moment.

I'm not going to jump up and down about it, though. It could be $150 by the middle of next week. We never know.

If the per barrel prices stabilize or keep dropping the price at the pump will start to drop soon. Oddly enough, when the price of crude drops it takes a while for the expensive oil to clear out of the system, so the price drops slowly. Wht the price of crude rises sharply, the cheap stuff just flies out of the system, so prices rise fast. It's just one of those anomolies.

Jack

Oil is not going to get down to $100 per barrel or lower until the dollar strengthens. Probably not happening in 2008.

Moparman wrote: Oil is not going to get down to $100 per barrel or lower until the dollar strengthens. Probably not happening in 2008.

Pretty much--if ever.

to be honest, my job depends on the price of oil staying high-ish, so while lower gas prices might be nice, $4 gas is still better than unemployment. just ask any oil company geologist what the mid 80's were like.

No matter what prices are doing now keep in mind oil is a controlled substance. OPEC changes supply to control what they feel the price ought to be at any given moment. They may be letting prices slide now but you know that's not gonna happen long term.

free oil?

The price of oil will never go down.

Strizzo wrote: to be honest, my job depends on the price of oil staying high-ish, so while lower gas prices might be nice, $4 gas is still better than unemployment. just ask any oil company geologist what the mid 80's were like.

find another job then maybe?

jk

yeah I found one station that had it at$4.02(9/10)

Gas, here in Memphis, is available at most stations at a few cents under $3.90/gallon and it's started to fall in the last few days.

I see americans being stupid for a while, but drops will be momentary at best. I think people were shocked and scared slightly by how much the price of gas effected their lives. Look for the downsizing of American boat mobiles to continue.

Dothan, AL gas prices are at $3.85 and I've seen as low as $3.83

3.73ish here

Where I am it tends to stay 10-20 cents above national average, just glad I'm not in Cali.

editNot to turn this into a political thread, but I'm pretty sure we are starting so see a "pre-election" drop in gas prices. On second thought, It is still July, a bit early for that. Hey, take it where you can get it.

They say that in the last week gas dropped at a larger rate than was ever recorded.

Joey

gah I hate all of you who don't live in California. I payed 4.47 for regular yesterday which isn't unusual.

E36 M3, Thats what I pay for 93 in ithaca.

Gas dropped quite a bit here in WA. I think regular (87 octane) was down to like $4.15 or something today. The other week I think I was paying $4.50 or something for regular. I can't remember what premium was at since I haven't been buying it lately, but I noticed it's normally about $0.20 more than regular.

Gas dropped to 3.99 9/10 in Grand Rapids, mi on Sunday woo-hoo!

Watch gas "mysteriously" jump in price at the end of August...just in time for the Labor Day weekend.