Why is the price of gasoline going down in May?

Discussion in 'Energy' started by Middleman, May 27, 2010.

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Why is the price of gas going up?

  1. Supply outstrips demand

    2 vote(s)
    33.3%
  2. Manipulation by the Obama Administration

    1 vote(s)
    16.7%
  3. The economy isn't really improving

    0 vote(s)
    0.0%
  4. The Oil Cartel is cash strapped and ramping up production

    0 vote(s)
    0.0%
  5. The European economic crisis

    0 vote(s)
    0.0%
  6. Other theory

    3 vote(s)
    50.0%
  1. Middleman
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    Middleman Defender of the month

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    The price of gasoline is going down lately. It usually goes up this time of year. The economy (supposedly) is improving, there's a huge environmental oil related disaster, and summer is approaching, so gasoline should be going up.

    I'll post a poll and offer some theories, or you can offer your own.
     
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  2. Rat in the Hat
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    Rat in the Hat Gold Member

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    Speculators are looking at the rising value of the dollar, and are realizing that they need to push down oil futures to reflect the strength of the greenback.

    Also, I think there was an undercurrent of belief that the euro was going to take over as the purchasing currency for oil. With it's current devaluation, I don't think that's going to happen anytime soon.
     
  3. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    Not sure where you buy gas, but it is going up here in Houston area :confused:


    With the situation in The Gulf, I don't expect it will be going down... In fact, I see it skyrocketing in the near future.
    Which is exactly what the current administration wants.
     
  4. Middleman
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    Middleman Defender of the month

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    My general locale is listed. The price of gasoline has dropped about 20 cents in the past month since the oil spill. It's really surprised me.
     
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  5. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    Cool, I hope it lasts, and the prices start to come down here as well..... :eusa_pray:
     
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  7. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The economy is in dismal shape with U6 unemployment near 17%. Demand is sluggish - hence lower prices.
     
  8. Vortex
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    Vortex Spinning Away!

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    The evil Joooooooooz! :lol:
     
  9. KissMy
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    There is a huge glut of oil. This is due to high prices the last couple of years spurring more drilling & the world reducing consumption in light of high prices & poor economies. Also more oil sold in dollars & less in euros.
    [​IMG]
     
  10. tommywho70x
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    it's up in austin, too. starting to push three bucks again and it's sure to go over in time for the summer holiday driving season.

    be patient, there is probably some other factor making it slip a little in the northwest. it will go up --- they have the market rigged to do that every year around the middle of june and the middle of november.
     

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