It's official: The Oil Boom Is Over

[CitricAcid]

VERY near me (1/2 mile), so my sphere of influence is probably small. Driving to work today, noticed the $3.96 is down to $3.92, maybe my gas savings will outweigh my USO loss if it comes down to that.

 

[cute fuzzy bunny]

$4.21 is the lowest I've seen around here. Thats CA for ya.

It was pushing over $4.50 for regular and $5.10 for diesel just a few weeks ago.

 

[ziggy29]

VERY near me (1/2 mile), so my sphere of influence is probably small. Driving to work today, noticed the $3.96 is down to $3.92, maybe my gas savings will outweigh my USO loss if it comes down to that.

Of course it will come down to that. You are no match for my ability to singlehandedly take down a stock by buying it.

 

[CitricAcid]

Of course it will come down to that. You are no match for my ability to singlehandedly take down a stock by buying it.

Actually, I am a co-conspirator now.

 

[Bestwifeever]

Regular is "down" to $4.27 today . I think Ziggy needs to franchise his sphere.

 

[FinanceDude]

Regular is "down" to $4.27 today . I think Ziggy needs to franchise his sphere.

BUY Ziggy, BUY!!!

 

[HFWR]

Last Sunday, filled up for $3.799 at Costco in east Plano, TX.

 

[W2R]

Is it market timing if I fill my gas tank this weekend? I haven't needed gas since the second week in June, and I still have 1/3 tank left.

Regular was just $3.99 at my favorite Chevron last weekend. It's probably less by now. Hmm...

Sorry!! I'm being insufferable, I know. Just can't help myself.

 

[FinanceDude]

Is it market timing if I fill my gas tank this weekend? I haven't needed gas since the second week in June, and I still have 1/3 tank left.

Regular was just $3.99 at my favorite Chevron last weekend. It's probably less by now. Hmm...

Sorry!! I'm being insufferable, I know. Just can't help myself.

Patience, maybe you'll see $3.70 by the time you're on fumes........

 

[W2R]

Patience, maybe you'll see $3.70 by the time you're on fumes........

Too late - - this afternoon I noticed it is down to $3.89, so I screeched to a halt and filled it up, dirty market timer that I am!!!

 

[cute fuzzy bunny]

$4.15 today.

 

[Marquette]

I think we're up to 3.76 after seeing a high of 3.99 and a low of 3.69.

 

[Leonidas]

Wow, it's dropping fast now. $3.49 at one place - with a long line to get gas. $3.66 is pretty common price for many other places, but it's still easy to find $3.85.

 

[brewer12345]

I'm even steering tropical storms and hurricanes down into Mexico, apparently. Missing the platforms in the Gulf means lower oil.

Just make sure all the big ones go out to sea like last year. Would be good for my catastrophe reinsurers.

 

[yakers]

Just paid about $7 a gallon (its sold in liters) for diesel fuel in Inuvik, Northwest Territories. No complaints, next gas station is 150 miles and the one after that is a further 230 miles down the road. Ah, supply & demand.

 

[Bestwifeever]

$3.95-$3.99 regular in western suburbs of Chicago--25-cent drop overnight. Keep it coming, Ziggy

 

[soupcxan]

Just paid about $7 a gallon (its sold in liters) for diesel fuel in Inuvik, Northwest Territories. No complaints, next gas station is 150 miles and the one after that is a further 230 miles down the road. Ah, supply & demand.

I think I've seen you on that TV show - Ice Road Truckers. You're the one who's all grizzled, right?

 

[ziggy29]

Oil down to less than $122, USO down below 98. I heard rumors they are going to start building a statue of me in our town square...

 

[cute fuzzy bunny]

Yeah, I filled up at 4.02 a gallon yesterday. From a peak of a little over $4.50 a gallon just a few weeks ago, its falling fast.

I dont think its quite done yet either..

Good news is you can hang onto that USO until next summer when they jack it up to $5.25 a gallon just ahead of backing it down to 4.50, much to the relief of everyone concerned.

In the meanwhile, there'll be a nice opportunity between November and March where you could actually sell a large truck or SUV or buy a little econobox at a reasonable price.

 

[CitricAcid]

What powerful, persuasive powers ziggy has.

By the way, here's one thing I don't understand, but I feel that the commentators/journalists understand less:

When the price goes up, consumption goes down as alternatives and phasing out of it occurs in many minor changes adding up to an aggregate. In other words, quantity demanded is a product of price. Yet, then inventories go up because of a decrease in demand which causes the price to drop. Then, as prices drop quantity demanded goes up, ad infinitum.

In other words, inventories shouldn't have such an effect on the prices... the prices are what affect the inventories.

 

[Dawg52]

Oil down to less than $122, USO down below 98. I heard rumors they are going to start building a statue of me in our town square...

Thank you good buddy. Let me know when consider selling. Oh, I filled up this morning @ $3.55 a gallon. Now, time to mow the front lawn.

 

[FinanceDude]

Thank you good buddy. Let me know when consider selling. Oh, I filled up this morning @ $3.55 a gallon. Now, time to mow the front lawn.

Guys like you should farm the lawn mowing duties out to kids in the neighborhood, making more time to chase birdies and eagles.........

 

[Bestwifeever]

Biting the market timing bullet and filling the tank today--I'll look for the "compliments of Ziggy" line printed on the receipt....

 

[Dawg52]

Guys like you should farm the lawn mowing duties out to kids in the neighborhood, making more time to chase birdies and eagles.........

Your probably right. It's almost too hot for anything. Hugging the a/c right now. Glad that's over.

 

[FinanceDude]

Your probably right. It's almost too hot for anything. Hugging the a/c right now. Glad that's over.

Golf at 6:00am, beer at 11:00am, then a nap............

I played in a golf outing recently with a good ole boy from Thibodeaux, Louisiana. He thought our 85 degree day with a 70 dewpoint was "mahvelous"................