Why is the price of gasoline going down in May?

[Middleman]

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.

 

[Rat in the Hat]

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.

 

[The Infidel]

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


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.

 

[Middleman]

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


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.

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.

 

[The Infidel]

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.

Cool, I hope it lasts, and the prices start to come down here as well.....

 

[The Infidel]

Found this.

Gulf Oil Spill: Obama Says Fed Gov't in Charge of Efforts to Contain Leak, Not BP - ABC News

It ought to help the problem

"Obama announced today that planned oil exploration in that region and off the Atlantic Coast will be cancelled and a six-month moratorium will be placed on new, deepwater drilling permits. "

 

[boedicca]

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.

The economy is in dismal shape with U6 unemployment near 17%. Demand is sluggish - hence lower prices.

 

[Vortex]

The evil Joooooooooz!

 

[KissMy]

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.

 

[tommywho70x]

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.

 

[boedicca]

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.

Oh the heartbreak of economic illiteracy. It's called Supply & Demand.

In the summer, people drive more. In the winter, they heat their homes.

According to your conspiracy theory, THEY must rig the tilt of the earth and its orbit around the sun.

 

[tommywho70x]

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.

Oh the heartbreak of economic illiteracy. It's called Supply & Demand.

In the summer, people drive more. In the winter, they heat their homes.

According to your conspiracy theory, THEY must rig the tilt of the earth and its orbit around the sun.

even though i only studied the hard sciences, i have some familiarity with supply and demand.

i also have access to unusual sources at times and in this instance, when gas was up over $4.00/gal and diesel, which should be the cheapest because of refining costs was the highest. when i asked him why that was he said the demand was such for diesel because of cargo hauler's needs that they could get away with manipulating the price.

the demand is there at those times of year and the assertion is that the rise in price is automatically programmed in.

according to your last statement, you must be well conditioned to reject any suggestion that a group of people exists that plan actions that are not in anybody else's best interests and generate illogical horseshit to attempt to refute an argument you can't refute any other way.

also tell me, what is an oil company or a council of oil companies, if not a conspiracy?

 

[RadiomanATL]

I told "them" to lower it.

You're welcome.

 

[pcw27]

Maybe the companies are boosting oil production in anticipation of a shortage after the gulf coast disaster.

 

[code1211]

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


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.

It had been hovering around $2.75/ gallon in Indy. I just filled up for $2.38/ gallon on Thursday.