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what the heck is causing petrol to plummet in price?

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ProdigalJunkMail Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:07 PM
Original message
what the heck is causing petrol to plummet in price?
as of 15.00EDT was down to 199.00 cents/gal (down 18.22 cents/gal today and 38 cents/gal from highs last week)...

Will we see it at the pumps???

sP
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skids Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:10 PM
Response to Original message
1. Jet fuel.

Investors are worried that airline travel will plummet, reducing demand.

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lutefisk Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:13 PM
Response to Reply #1
4. Less pollution- that's good.
Too bad about the tourism economy, but jet travel is horrible for the environment. And, unlike driving to work, it's often very discretionary.
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ProdigalJunkMail Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:12 PM
Response to Original message
2. but this is for gasoline...
not jet fuel... Oil prices are down a couple of percent (for which your assertion makes sense) but gasoline is down almost 9%...

sP
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n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:22 PM
Response to Reply #2
6. Doesn't matter
Most refinerys can change from one to the other, so if not as much jet fuel is produced, more gasoline can be. But mostly this is speculation driven, not reality. Give it a few days, they will drive it back up again.
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spag68 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:12 PM
Response to Original message
3. oil
Maybe it's falling because we are awash in oil and they don't have anywhere to put it. We will see little change at the pumps as exxon doesn't have enough money for it's next round of bonuses.
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HereSince1628 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 03:13 PM
Response to Original message
5. In my dreams...that would have been a good price last year


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