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Has the Drop in Oil Prices Silenced the Doomsayers?

In summary, oil prices have hit a new low with a barrel closing at $87.81, causing concern for OPEC and Iran. Gas prices have also dropped, with some areas seeing prices as low as $2.99 per gallon. However, there are still areas experiencing gas shortages and the prices may go up again in the future. There is also speculation that the drop in prices may be attributed to the upcoming election.
  • #51
chefann said:
And yet the roads are still crummy... :grumpy:

DH paid $3.27 credit price yesterday. The cash price at that station was 3.19.
Click to expand...

You said it!

There is no way out of Jenison right now! Every exit is closed.....:grumpy:
 
  • #52
we are down to $3.05~

many years ago (over 8 to be exact) when I first bought the mommy-van, DH & I complained when the gas prices went to $1.20....that meant we couldn't fill up the new van for less than $20 like we had the few months before..........oh, how I wish those days were back!
 
  • #53
We were at $3.39 here when we went in town. About half an hour from me, it was $3.22.
 
  • #54
My sister just told me that it is 2.89 where she is about 20 min North of me.
 
  • Thread starter
  • #55
Supply and demand in action, folks. Just like Guido Sarducci teaches in his 5 minute university.Of course, there are still those who believe gas prices are all set by 6 guys in Dallas, sitting in a room filled with cigar smoke. (One of the six guy is Dick Cheney, doncha know?)
 
<H2>What is the current price of oil and how does it compare to previous prices?</H2><p>The current price of oil is $87.81, which is the lowest it has been in a long time.</p><H2>What is Iran's stance on oil prices?</H2><p>Iran has stated that $100 a barrel is too low and is urging other countries to stick to their output targets to prevent oversupply from worsening.</p><H2>Why is it ironic for Iran to comment on oil prices?</H2><p>It is ironic for Iran to comment on oil prices because they are a major oil-producing country and their actions often have a significant impact on global oil prices. </p><H2>Where is Maxine Waters and what is her stance on oil companies?</H2><p>Maxine Waters is a member of the U.S. House of Representatives and is known for her efforts to regulate and nationalize oil companies. Her current stance on the issue is not clear. </p>

What is the current price of oil and how does it compare to previous prices?

The current price of oil is $87.81, which is the lowest it has been in a long time.

What is Iran's stance on oil prices?

Iran has stated that $100 a barrel is too low and is urging other countries to stick to their output targets to prevent oversupply from worsening.

Why is it ironic for Iran to comment on oil prices?

It is ironic for Iran to comment on oil prices because they are a major oil-producing country and their actions often have a significant impact on global oil prices.

Where is Maxine Waters and what is her stance on oil companies?

Maxine Waters is a member of the U.S. House of Representatives and is known for her efforts to regulate and nationalize oil companies. Her current stance on the issue is not clear.

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