GAS (unrelated to the below post)

[blaknoize]

has anyone else heard on the news that the "speculators" think that the demand for gas has fallen so they are lowering the prices? Its taking effect at least up here in Ohio. Its gone down 40 cent in 3 days. $3.31 is the current price at the pump and the average (for this area) is 3.55.

I'm baffled. The speculators believe that due to the dropping of the stockmarket that the drivers will "drive less" so in lue of that, they will drop the price as they believe demand will decrease.

Kinda backwards I think. But I could be just retarded who knows

[sabastian458]

we are at $4 still IF we can find it. the demand is strong in the south.

[blaknoize]

^yea, a friend of mine that lives near Arbor Place has only one gas station selling at 4.49 a gallon

[mocha latte cupcake]

w00t w00t here on the island its 3.61 for premium

[blaknoize]

LOLZ JDM's happy cuz its 3.61, uve been assimilated... lolz

[Sam C.]

The drive less idea is only a piece of the issue. Remember oil makes the world go round. With the current market less money is available, meaning less will be spent in the eyes of speculators. Less money equals less purchases which equal less deliveries, less flights, etc... It is guage of overall consumer confidence.

These guys trade on the expected future value of oil. When the economy is down so is oil and its potential future value.

[BanginJimmy]

GA has the highest gas prices in the country right now. Its even higher than it is in Alaska.

Demand has actually gone down pretty dramatically in the last 5 or so months. Add to that the bubble got a leak and is deflating. I think the price is about right at $90 a barell.

[xlilvi3tx]

The speculators believe that due to the dropping of the stockmarket that the drivers will "drive less" so in lue of that, they will drop the price as they believe demand will decrease.

Kinda backwards I think. But I could be just retarded who knows

No matter what man, people will always keep driving lol. People need to get places and no matter how much gas is going to be people will still pay for it. They might find alternative ways to save it such as getting a bike, drive less, or just stay home more often but people will always need to get places... lol gas hunting/prices is such an ass though no matter where. I miss when it use to be a little more then a dollar lol.