DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
12 comments:
Wait till after the election, it will just go right back up I bet.
I was just at Sams and yep its $2.82. I had to go to Delmar and Wawa is selling it for $2.95!
Nanticoke , Wades gas station
is $3.29 . Very high in my opinion.
Has anyone else noticed that the price of gas isn't going down proportionately to the price of a barrel of gas. This summer for example a barrel of oil was around 150 bucks, and gas was pretty steady at about 4.00 bucks. Now a barrel of oil is around what 90 bucks, and gas in some places are still up around 3.00 bucks..something isn't right with these numbers, and they say there's no price gouging...LMAO
Sunoco at 13 and Dogwood $3.79
that is $2.79!
The Royal Farms on the corner of Dykes and S. Division is $2.79.
Oil closed under $70 a barrel today.
"Crude has now fallen 52.5 percent since surging to a record $147.27 on July 11. Some energy analysts have predicted oil could fall as low as $50."
"Thursday's declines accelerated after the U.S. Energy Information Administration said in its weekly report that crude stocks rose by 5.6 million barrels last week, well above the 3.1 million barrel increase expected by analysts surveyed by energy research firm Platts.
The EIA also says gasoline stock rose by 7 million barrels last week, more than double the build analysts had expected.
Demand for gasoline over the four weeks ended Oct. 10 was 5.2 percent lower than a year earlier, averaging nearly 8.8 million barrels a day, the EIA said. "
"While U.S. energy supplies have been swelling because of falling demand, they've also grown as U.S. Gulf Coast energy installations continue to increase production after shutdowns caused by Hurricanes Ike and Gustav. That has helped to further drive down prices, especially for gasoline."
OPEC will hold an emergency meeting one month sooner than scheduled to determine if they need to cut production. "OPEC's decision to move up their extraordinary meeting underscores the cartel's anxiety about oil's stunning drop in value. Analysts believe several OPEC members, particularly Venezuela and Iran, budgeted their national spending based on oil at much higher levels, meaning they'll face substantial revenue shortfalls as prices come down.
"They're panicking," Flynn said. "If they come in and cut production and oil falls to $60, they're going to look like they've lost control, which they have."
MSNBC.com story
$2.79 Royal Farms at MD/VA line.
It's oil 'futures'. You don't see the decrease at the pumps until a couple of months later.
However, when the press gets on the 'Oh my God oil is going to go through the roof' roll, then the commodities market shows immediate reaction.
You better believe OPEC is going to cut production... God forbid they loose any money by having a glut of oil on the market.
Was just returning from Baltimore and gas price just this side of the bay at 2 WaWa's one in Stevensville and on in Cambridge $2.79 a gallon.
Just filled up at Exxon in Laurel...only $2.69. Thursday night 8 p.m.
One person got it right when they mentioned that it's Crude "futures" that are making the news. Problem with that is with a crashing market NOBODY is going to buy futures right now. The second thing is that we read about "crude" prices. We don't burn crude in our vehicles. Gasoline and Diesel fuel are only a few of the products taken from that bbl of crude. It is going to take time for the gasoline market to catch up since the crude market is dropping so quickly. The sad part is that it never seems to take as long to effect gasoline prices when the price is going up even though the same properties exist in both scenario's!!
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