Black People Politics : Gas prices dip below $3 a gallon: What's really behind the slide?

Discussion in 'Black People Politics' started by Clyde C Coger Jr, Nov 9, 2014.

  1. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    In the Spirit of the Economy,



    ... Video available, click the link below ...


    Gas prices dip below $3 a gallon: What's really behind the slide?

    While this exact makeup tends to vary by region, it’s fair to say oil prices are the most important factor in determining the price of gas; plummeting crude should mean cheaper fuel. In that regard, low crude prices are “a victory in the big picture for the consumer,” according to Kilburg. “Crude oil back under $80, that’s a win.” And fuel prices could be heading lower still. “The momentum is there,” said Kilburg. “Crude oil is in a bear market. As soon as it got under $86.14, you’re gonna see continuous selling pressure in the crude oil [market], which as you know 66% of that is reflected in the ‘pain at the pump’ price. So I think we do get closer to $2/gallon.” Kilburg added that that could mean more people will splurge on a Snickers or Coca Cola (KO) at the gas station.

    http://finance.yahoo.com/news/gas-p...what-s-really-behind-the-slide-134848348.html

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  2. Enki

    Enki The Evolved Amphibian STAFF

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    I know...:eek:

    I've seen it as low as 2.78 in some places here. Now I wonder if they are going to give credit where credit is due.

    Bruh is was strange seeing it at 2.98 a few weeks back, folks were pumping gas and taking pics at the same time.

    Peace!
     
  3. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    ...

    Guess what I paid the other day, lol ... 2.55, yep!



     
  4. Enki

    Enki The Evolved Amphibian STAFF

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    Show off...:lol:

    I wonder if it will continue to drop, or go back up now that the GOP owns both houses...:thinking:

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  5. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    Okay now bro. Enki, the question was answered in the OP, here it is again:


    While this exact makeup tends to vary by region, it’s fair to say oil prices are the most important factor in determining the price of gas; plummeting crude should mean cheaper fuel. In that regard, low crude prices are “a victory in the big picture for the consumer,” according to Kilburg. “Crude oil back under $80, that’s a win.” And fuel prices could be heading lower still. “The momentum is there,” said Kilburg. “Crude oil is in a bear market. As soon as it got under $86.14, you’re gonna see continuous selling pressure in the crude oil [market], which as you know 66% of that is reflected in the ‘pain at the pump’ price. So I think we do get closer to $2/gallon.” Kilburg added that that could mean more people will splurge on a Snickers or Coca Cola (KO) at the gas station.

    ...

     
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  6. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    Its a Bear Market Framily, if the data is correct, look for gas prices to continue to drop ...


    Oil may drop to $50 a barrel

    Crude futures prices may continue to free fall even with the 30% drop since June. The price of West Texas Intermediate for December is now hovering at the $76 a barrel level, just shy of the $75 target the team at Goldman Sachs (GS) is forecasting for 2015. While Brent for December is at $79 a barrel, the lowest since 2010 and below Goldman’s $85 a barrel target.

    http://finance.yahoo.com/news/oil-may-drop-to--50-a-barrel--211726433.html

    Click link for video ...



     
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