Cost of gasoline also dropped a penny for national average of $3.663 a gallon
Oil prices are at their lowest level of the year after Standard & Poor's downgraded the U.S. credit rating.
Benchmark West Texas Intermediate crude fell $3.33 to $83.55 per barrel Monday morning on the New York Mercantile Exchange. The previous settlement low for the year was $84.32 per barrel in mid-February.
6 comments:
The price of oil and other commodities are the true measure of the strength or weakness of a currency.
Prices are falling which is counter-intuitive for the fall in the dollar represented by the cut by S&P. Take a look at the price of food and gold by comparison.
Oil prices are being artificially manipulated
What we're continuing to pay for gasoline compared to the precipitously falling price of crude oil with no corresponding fall in gas prices leads me more and more to begin to believe the "rantings" of those who claim we are being scammed and ripped off by big oil.
it will take 4 weeks to see the difference at the pump. But if they go back up the price will reflect that almost immediately.
Glad you are waking up 2:17. If you look at the cost of crude vs. the cost of a gallon of gas and use it as a percentile, we have been getting gouged for a few years now. Gas companies posting record profits while the rest of us manage to squeek by.
lol it's squeak but who cares.
It must be that the demand has gotten so low that the prices have gone done, right?
Isn't that the excuse for prices going up? Yeah, uh-huh
If price of the barral goes down but the price is the same at the pump that means they are just going to make more profit?
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