Wow! Isn't this unusual, a summer season with a drop in gasoline prices.

[ThomWV]

Yesterday morning I noticed that the price of gasoline had dropped even further in the last couple of days. Locally its come down about $0.18 since the first of the month. So I thought to myself, Wow! Isn't that unusual? But then I thought, those asshole oil companies are holding the prices down just to draw attention away from themselves, they figure they have enough problems as it is and they don't need a public riled by the blow out in the Gulf pissed off about rising gas prices too. And then of course I thought, how can it be that for years we've bought this nonsense that prices always rise in summer, but not not, and with us spilling the largest amount of oil in history at the same time? In earlier years any excuse would do to drive up prices, a fire at a refinery, a busted line, a small strike - but not now. Now we dump oil in the gulf and the price goes down. Why is that? And of course the answer is obvious, they have been scalping the living shit out of all of us continuously, with summer time spikes in price added just because they could, for decades.

[MindandSoul]

1. Yes. .but now they decided that, with the outrage about the "leak" they couldn't

afford to raise the prices. . .or they would play right in the hands of the environmentalists and people all across America would REALLY consider weaning off Oil!!!

[Blue_Tires]

2. yeah, i also noticed the usual spike hasn't happened yet...

that would be like adding napalm to the PR fire....

[Desertrose]

3. Low prices keeps us using and addicted.

Clever, aren't they?

[nickinSTL]

4. yeah - I noticed that, too

if they were telling us the truth about supply being the reason for the summer gas price rises every year - then with the loss of all that oil in the gulf...shouldn't prices be going even higher this summer?

hmmm....

But then, the truth is, that the price rises have always been bs price-gouging, which with the Gulf disaster, they can't afford to do this year...imagine that.

:mad:

[stubtoe]

5. I am SO recommending this.

Absolutely dead on analysis.

[Sebastian Doyle]

6. It also proves that the usual excuse of "supply and demand" is BULLSHIT

Obviously BP is "losing" millions of gallons through their own reckless stupidity in the Gulf, so there's no question that subtracts from the supply.

Yet the price drops, because the filthy fucking bastards know they do not DARE to raise it right now.

[UTUSN]

7. Shhhh, the mobs and the masses are meant to be kept asleep!1 n/t

[Subdivisions]

8. Enjoy it while it lasts...

The price of oil took a hit last month (May) on worries over Europe's debt crisis. However, investors have found new confidence on last week's generally good news in the U.S. economy and oil is on the way back up. Currently WTI is $74.44/barrel. The drop in gas prices that corresponded with the drop in May of oil prices will follow it back up as summer demand increases.



Edited to add link to above chart: http://oil-price.net/dashboard.php?lang=en

[ThomWV]

9. Isn't the scope of your chart a little limited?

What I see is a 1 month chart that showed a clear trend in price drop, highlighted by what may at best be a modest 2 day rise (back to the previous week's average) toward the end of last week. That is unless my ability to read a graph has deteriorated greatly.

[Subdivisions]

11. I edited the post to include to include a link to the source of the chart...

Also, there are several other places to see oil charts in varying detail.

If your dispute is that the chart doesn't establish any long-term pattern, well, I know that. I posted the chart only for illustrative purposes, not as a tool for making investment decisions.

[Canuckistanian]

10. They're getting nervous

If gas prices get too high, people might start demanding probes and investigations. And in this environment of corporate shenanigans and oil company incompetence, people will be out for blood.

Better to lose a little profit NOW rather than a lot from regulation of collusion and price-fixing.