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Has anyone been watching crude oil prices?

Since October it has been on a major slide. Some say we may see $30 a barrel next year. I don't know about that, but I think low $50's maybe even $40's is possible. That is unless OPEC decides to cut supply, which I am sure they are going to do at some point

http://oilprice.com/commodity-price-...de%20Oil%20WTI

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ZenkiKid

Yeah I am sure OPEC will cut supply.

but until then I am going to enjoy this and drive!

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exitspeed

Cheap gas just in time for me and my biddies annual Man-Cation to Detroit! Woot.

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dsastr_clan

is it true that is illegal to buy huge amnts of gas and store it?

future

Gas goes bad so that wouldn't work

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DenkiMan!

this is actually a direct contributor to why Hummer sales have had a slight bump in the recent couple of months, and are probably projected to rise a bit in the coming months since the slide will continue.

trailering to drift events will hopefully be cheaper now lol

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spooled240

I heard that the significant increase in hybrids and electric cars being purchased in recent years is a major reason why oil prices have been declining.

I love it.

Agamemnon

Ever since North America switched to being the largest oil producer, OPEC has starting a price war. The are selling their oil for dirt cheap to undercut our prices. I doesnt really hurt us though. However, Russia is getting crushed by this.

Phlip

^^^ That...
It is a backhanded way of killing or hindering competition. Yes, it takes them down from usury-level pricing on it, but they are not hurting in the least.

Watch, though... The price of goods that went up when the price of oil did WILL FUCKING NOT come back down.

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Akito86

wahoo thats great i personally believe gasoline should be cheaper , among other things like internet should be cheaper and milk as well.

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JohnnyDrfiter22

Gasoline prices are on the decline down we as Americans are using are own resources.

Also one may ask why the F$#K aren't prices of goods coming to along with it. Well we as consumers are used to spending X Dollars on X Items. Companies are just going to sit back and watch their profits increase.

The only thing that may decrease is the cost of airline tickets.

Akito86

you make a great point. ^^^
it be great to visit other nice states maybe another trip to Japan for cherry blossom festival =D

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zeitgeist

Everything is going to cost the same, people are going to start buying up gas guzzling fortresses again, US manufacturers will push fuel efficiency innovation to the side again as well as other american industries, fracking is a major risk to our fresh water supply, not to mention the emissions wreaking havoc on our environment

How is this good in the long term again? Oh yeah we'll all save an average of 1000 bucks a year if that much. Fuck the future i guess

Gnnr

http://www.nydailynews.com/news/poli...icle-1.2045481

Think again amigo.

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DenkiMan!

not entirely true, alot of the major airlines did something called "hedging" their oil prices from where they buy their fuel from. back when oil prices were at like 90 a barrel, airlines locked in a price for something like 6 or 8 months long to keep their prices in at 90 a barrel, even if the price goes down (which it's currently doing) they still have to pay 90 a barrel.

so they essentially bet prices would keep going up - and they bet wrong - in fact if the oil prices kept increasing, tickets would've stayed where they are right now and they would have looked comparably cheap lol

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Dboyizmlg

This is a bit off topic here but in the next few years vehicles will be changing dramatically!

The future of cars being Hybrid/electric will take over the streets.
My educated guess is +6years we will see car manufactures produce more hybrid/electric.

Have you guys seen the new 2015 Porsche 918 spyder....?
It's an awesome car, and the future!

Enjoy:
https://m.youtube.com/watch?v=vlgJV37KUz4

fliprayzin240sx

$2.57 for premium in VA...feels like its 2008 all over again.

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Dboyizmlg

$2.28 in Ontario California.

But it's E85 fuel... Lol

drift freaq

$2.59 for premium yesterday at Costco here in SoCal.

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turbronegro

Interesting read:
http://www.slate.com/blogs/the_world...ices_down.html

SimpleS14

^-- This

I care more about price of goods vs. oil prices. Also IMO this slide in gas prices is going to be temporary.

I just hope people are not shortminded and stop further development/research into alternative energy sources.

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Otto347

It was $2.13 here in Raleigh the other day. Filled up the hardbody for 24 fucking dollars.


Did hear something on NPR this afternoon about big oil budgets for next year (or something along those lines) and all the guy kept saying was barrel prices will go back up.....

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tricky_ab

It's spec'd to keep dropping...

Speaking with Canadian business publication Financial Post, Edwards said, "Prices could spike down to $30, $40. It got down to $35 in 2008, for a very short period of time."

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oldschoolsilvia

Paid $1.80 today, cheapest I have seen it so far!

Kingtal0n

Its almost as if a bunch of people got together and said, "lets raise oil prices, but first, lets buy a bunch of oil stock" and so they did that. Then they cashed out with their millions of dollars. And then they said "ok, now that we sold all our stock and made millions, lets do it again. Lower oil prices back down, buy more stock. Then re-raise the prices once more".

Nobody can see it coming? Don't you think once gasoline goes super-low it will once again climb to $4/gallon?

simmode1

Fixed that for ya.

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NISR20MO

You must fill up off of S. Saunders like me, best prices in Raleigh

K_style

$2.67 for regular and $3.37 for Super Hi (93 octane) in Alabny NY area...

Fuck... we are more expensive than CA... how does that work?

simmode1

$1.79 for regular & $2.09 for 93 octane around the corner from me. I think Texas might be winning...

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simmode1

Averages by state: http://www.gasbuddy.com/GB_Price_List.aspx?cntry=USA

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