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oil sell off in the market

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Old 07-17-2008, 06:03 PM
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oil sell off in the market

3rd day in a row oil has dropped a good amount, and there are alot of people selling off , which could be a real good thing.ive seen 3 gas stations come down in deisel. one as far as 10 cents. i know ,still has a way's to go.
Old 07-17-2008, 06:12 PM
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oil is dropping and the local fuel station is raising there prices. guess they are trying to milk us one last time
Old 07-17-2008, 07:35 PM
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The short sellers have been put on notice. No drop in price here yet.
Old 07-17-2008, 08:41 PM
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Gasoline prices dropped 10 cents a gallon. Diesel is maintaining at $4.79. Funny how when the price of oil was going up, Fuel prices jumped immediately. Now the price of oil is going down, prices are pretty much staying the same...
Old 07-17-2008, 09:42 PM
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that is because they purchased oil at the head high...they have to refine it with that high price...they sit on high prices (purchased and refined) oil...untill it all sells...then they can sell the oil they purchased low and refined it at the low...cheaper....it would be bad business to sell the oil they purchased high at a low price....i know it sucks but that the reality of the situation....

nca
Old 07-18-2008, 10:45 AM
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very well put.
Old 07-18-2008, 11:03 AM
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Generally it takes 2 weeks for the price drop on a barrel to get to the pump.
Old 07-18-2008, 11:23 AM
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Except up here. The crude price hits a high and the SAME DAY the pump price is up. Their reason? "Well the price of crude went up today..." We're at 5.55 today... Nice, real nice...
Old 07-18-2008, 11:47 AM
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Originally Posted by klx650a2
Except up here. The crude price hits a high and the SAME DAY the pump price is up. Their reason? "Well the price of crude went up today..." We're at 5.55 today... Nice, real nice...
i frequently see the same thing. oil goes up today, pump prices go up tomorrow- oil goes down today, no change in pump price.
Old 07-18-2008, 12:19 PM
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Originally Posted by snoyes
Gasoline prices dropped 10 cents a gallon. Diesel is maintaining at $4.79. Funny how when the price of oil was going up, Fuel prices jumped immediately. Now the price of oil is going down, prices are pretty much staying the same...
Do you live by Sandwich, IL? That is the exact price at my station. It seems higher everywhere else in the area.
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