Crude Oil Price Dropped $3.77 per Barrel!

[w7wv]

Yesterday's prices drops by almost $4 a gallon.
That's a nice start anyway.

[Radio]

Yep! And a bunch of local folks have voted in the nations first new oil refinery in 30 years to be built in South Dakota, easing the crunch and creating 1000's of jobs where there are none.

Of course, the enviromental wackos are going to fight it every inch of the way.

[W6DCS]

I saw the drop - According to the analysts we cut back back usage more than they thought in the US, and the other countries have cut back also. The part I liked "The Analysts had projected higher prices, and they are now dropping more than the Analysts are comfortable with". I really don;t care what their comfort level is, all I know is we probably won't see it at the pump anytime soon. I am amazed, the price goes up and I see it immediately at the pump, or within 72 hours, the price goes down and I don't see the downward adjustment at the pumps for weeks or months.
I hope they build the refinery, and the current refineries get to expand. I am not a fan of nuclear power, but Europe has hundreds of them, and maybe it's time we build a couple more. I would rather use nuclear power than oil and coal burning generation. That would free up some oil for other uses, like RV'ing

[TXiceman]

Now we wait and see if the $$$ at the pump follows along.

Ken
KE5DFR

[w7wv]

Yep I am waiting. It seemed everytime the price went up for a barrel the price went up at the pump daily.
I am waiting~~~~~and no change yet!

[W6DCS]

It actually dropped a few more cents but has gone back up a little over a dollar a barrel. They say diesel is down .09 a gallon, with an average of 4.53 a gallon. Where they came up with 4.53 a gallon amazes me, here it was 5.29 a gallon on Saturday, which means somewhere it must be a little over 4 a gallon. I am still trying fond that somewhere.

[w7wv]

But you do live in CA so you have to pay more than most!
SRI OM but I was born and raised there. I left in 1993 when the DoD base I worked at closed and I took early retirement.
Could not afford to retire there.
Gas here to day is $3.80. Some say that this area is the lowest in the nation though.

[W6DCS]

I know we pay more than most do, but there are a few places higher. I doubt if I will see anything below 4 a gallon unless I travel out of state. I am just hoping prices drop at least a buck a gallon before they start the winter price hikes and I see another buck a gallon tacked on to what I am paying already. Everyone keeps blaming supply/demand, weakened dollar, but the supply is up, the demand is down, and the dollar is not as weak, so I am waiting for what the variable on why it is so high is added.

[w7wv]

I hear you, the reasons matter little when you pull in and have to take on a lot of fuel and then pay that bill