Crude Oil Way Down (gas prices, wages, premium, gasoline)

[saltine]

One wonders when this will reflect at the pump
Oil Price: Latest Price & Chart for Crude Oil - NASDAQ.com
Crude oil is collapsing http://www.businessinsider.com/crude...ugust-3-2015-8

[greywar]

I suspect pretty slowly. While competition does exist at that level, its a slow decline, whereas prices going up is much faster. Not anything evil per se, just how it works.

Im kinda curious what will occur to countries that truly rely on it.

[cb at sea]

Apparently, the price of crude oil, and "supply and demand" have nothing to do with gas prices.

[ntwrkguy1]

Originally Posted by saltine

One wonders when this will reflect at the pump
Oil Price: Latest Price & Chart for Crude Oil - NASDAQ.com
Crude oil is collapsing Crude oil prices, August 3 - Business Insider

I paid $2.49/gal. for premium at Costco just about an hour ago.

If oil continues its downward slide, I expect to pay $2.25 for it by the middle of September.

[HappyTexan]

Saudi Arabia doesn't like it when a country says "no" to their wishes.

[mm4]

Adjusted for inflation, gasoline hasn't been this cheap at the pump since 1964.

[pknopp]

Gas down around .50 cents here. The people could use a break.

[greywar]

Originally Posted by cb at sea

Apparently, the price of crude oil, and "supply and demand" have nothing to do with gas prices.

"Supply and demand" also has terms like "sticky" which is used in relationship to pricing. And that can be both upward and downward pricing.

Wages for example tend to be very "sticky".

While oil companies do make incredible profits, this price change may not be as beneficial to them as you might think.

[saltine]

Originally Posted by ntwrkguy1

I paid $2.49/gal. for premium at Costco just about an hour ago.

If oil continues its downward slide, I expect to pay $2.25 for it by the middle of September.

Heard today, "the winter blend may offset any decline at the pump this fall."

[Ponderosa]

I was watching a 1993 movie the other day. A car went by a gas station showing $2.19 on the sign. Those were bigger dollars back then too. Enjoy it while it lasts, because it won't.