fill your tanks NOW !

[Tail_Gunner]

fill your tanks NOW !

I was watching the price of fuel like a hawk, thinking I'm going to tank up when the price bottoms out. It was $2.65, then $2.59, $2.57, $2.55, $2.52, and then it jumped back up $2.59 at all but one station within the span of a couple of hours. So I thought that I'd better fill my tanks now at that last station before they jacked the price back up like all the other staions. I figured that the price of fuel/heating oil must be starting to go back up with the drop in temp's. So I filled both my tanks to the tune of $200.

So guess what? The price dropped two days later to $2.49.

 

[powerboatr]

MSN

New York light crude futures fell $1.74 to $59.29 per barrel, as traders focused on the fundamental supply outlook, rather than any worries about a cut in OPEC production.

Despite significant selling in oil in the past month, crude has had trouble breaking below $60.

"There's plenty of oil on the market; demand isn't that strong at the moment," Neil McMahon, senior integrated oil analyst at Sanford C. Bernstein, told CNBC Europe. McMahon is predicting an average price of $50 per barrel in 2007.

There is still doubt about how far crude prices may fall.

 

[bushpilot]

our reserves are at an all time high, the alaska pipe has been patched
and is back on line...and theyre talking about discoveries in colorado
that may be larger than texas and alaska combined...

also theres "concern" that the winter is already shaping up to be
"mild"...to some degree i hope the bottom falls outta it and the middle
east bleeds from it...but at the same time ill hurt our economy if that happens
too...lots of companies employ and depend on oil....and id
much rather pay 3 bucks per gallon than have 50 cent fuel & record
unemployment !