We're down to 1.99 in Tulsa as of this morning.

Heard a couple weeks ago local, before OPEC met, that this would have a direct affect on the Black Sea fleet nation of old... Apparently it's true..

It's all smoke and mirrors, flights are still up as are the astronomical profits of the airlines....

It's all smoke and mirrors, flights are still up as are the astronomical profits of the airlines....

Airlines are flying more passengers with less flights using less fuel, their profits have been rising before the drop in oil.  Now even more profit.  Within the last couple of days there was an interview on CNBC with an airline CEO, saying there was no plan to drop fuel surcharges and baggage fees.  During that same interview Phil LeBeau claimed the profits are being derived due to fees, not the drop in oil.  Yeah it is all smoke and mirrors.

 

Back when I was in business I shipped by common carrier, fuel went up and there was surcharge.  Fuel came down but the fuel charge remained.

 

A gas station back in the last century

I just wish all would drop that stupid 9 tenths/cent from the price no matter what it is.

Oil is vital to the Saudis, their economists are educated at Cambridge, Oxford and Harvard, they ain't stupid, they know exactly what they are doing.

For the short term this a boon to us consumers and the economy. Down the road we may see a change in Fed. monetary policy, increased interest rates, world currency markets. This issue is highly complex, more than just the pump price and way too much for me to comprehend the entire picture.

I'll be filling up today at $2.50.

Agreed. If I remember correctly the Saudis will not say how much oil they have in the ground. It could be 10 years worth it could be 500 years worth. I agree with the second paragraph. I used to follow this stuff but don't really care to anymore. If any one is interested googling petro dollars can prove to be an interesting read.

The Fed did announce yesterday that they do plan on raising interest rates around the 3 rd quarter 2015, as Janet Yellen said a return to normalcy.  The market did react favorably, most likely due having a bit more certainty about the future.  The market is more about future expectations than the past.  Steve Forbes had some opposing comments which I found to be compelling, keeping interest rates low promotes business growth, startups and job creation.

 

Not being an analyst or any kind of expert I can only magpie what I listen to, some of the "oil experts" have the feeling that there is an attempt to make a bottom in oil.  Personally I'm more interested in stability than the actual price, low and stable would be great.

2.32 here in lagrange ga

2.19 Aiken SC

1.99 no lead, 2.85 diesel today in north tx.  Should continue to fall and I'm hoping chasing the tourney trail this spring will be the cheapest in years.  Coming quarterly reports of energy sector companys should crash their prices.  I'd expect some consolidation and bankruptcy, then eventually, higher oil prices.  Maybe much higher, stocks will follow.  Not sure how exporting oil via the Keystone is good for America.  Again, JMHO 

Tuesday afternoon in Greenville Michigan, a local station dropped their price to $1.99.  Still around $2.30 here.

 

The one question not yet posed is what everyone is doing with their new found savings?

Tuesday afternoon in Greenville Michigan, a local station dropped their price to $1.99. Still around $2.30 here.

The one question not yet posed is what everyone is doing with their new found savings?

I seem to be spending mine on bread, milk, and other grocery item increases.

The one question not yet posed is what everyone is doing with their new found savings?

 

ask TW, Dick's Sporting Goods, BassPro and some eBay vendors how they intend of spending my "savings"......

I seem to be spending mine on bread, milk, and other grocery item increases.

Yep, sorta hoped food cost would mimic gas as well, nope, prices jumped.. Noticed quite a increase yet again, yesterday..

We finally hit $1.99 here in Dallas.

I seem to be spending mine on bread, milk, and other grocery item increases.

 

Consider alternative stores. For "basics" both Target and Walmart are

hard to beat. For those with bigger households, Cosco is a no brainer,

but the portions are just too big for me and my wife.

 

 

 

Consider alternative stores. For "basics" both Target and Walmart are

hard to beat. For those with bigger households, Cosco is a no brainer,

but the portions are just too big for me and my wife.

 

 

 

Much of the bulk packaging is more than enough for the two of us too.  We buy at Costco Kirkland brand coffee, I like it and the price is pretty good 10.99 for 3 lb.  We buy steelhead trout, salmon, filets, canned tuna, some vitamin supplements and my wife never leaves without a rotisserie chicken.  For what we buy the membership is worth it for us.

Be glad it's not affecting the economy like it is in Russia.

RW we are careful to buy where we get the most bang for our limited dollars. Most of our purchases are from Walmart, or other discount stores. We buy store brands for most of our basic items. There are some things we buy at the local chain because we are willing to pay a little more for the quality we want; fresh produce, and other items not handled by the discounters. When 4.5 pounds of 80/20 hamburger costs $19.00 or Folgers costs $10.00 at Walmart, just to name a few of things that have jumped 15-20 percent over the last few months, it does make a real difference in "disposable" income.

I used to pay little attention to these things. Nowadays I have to out of necessity.

Tuesday afternoon in Greenville Michigan, a local station dropped their price to $1.99.  Still around $2.30 here.

 

The one question not yet posed is what everyone is doing with their new found savings?

Driving more

Energy dragged the stock market down yesterday, hope not a trend starting.

My preference would be higher gas and higher equity markets.

Too low gas prices make me nervous.

 

I guesss you can put the violin back in it's case. Lower oil prices are good for America.

 

http://quote.foxbusiness.com/symbol/i:dji/snapshot/

 

 

 

 

Fox said it so it must be true..

Fox said it so it must be true..

Are you saying the Dow didn't go up 421 points yesterday?

Are you saying the Dow didn't go up 421 points yesterday?

Please, I'm not an idiot. I'm saying that the one time gain yesterday has nothing to do with the reason gas prices are low and doesn't even make up for the losses previously. Fox news likes to hide the facts by trumpeting something else and claiming it's related and everything is better now.

Americans are so stuck in the now that when confronted with the future, if it's not rosy, they ignore it. Great that we have some extra money now, how about when the American companies drilling and fracking go out of business? All the American jobs lost, all the American tax dollars being paid by the individuals and companies, all gone? Then the Saudis raise the prices back up, enough so to make up for their losses.. How is that extra money now? It's great to think of the commodity market, but the Saudis control the price, end of story, it's really out of the supply/demand concept, because we are so dependent on it.