Mike's Railroad Crossing Forum

Looks like they are starting to slide...

Local Shell was $2.79 for about a week and a half and it is now down to $2.77. A Chevron in Beaverton was at $2.78 for a while and it's now $2.69.

AndrewFields wrote:Looks like they are starting to slide...

Local Shell was $2.79 for about a week and a half and it is now down to $2.77. A Chevron in Beaverton was at $2.78 for a while and it's now $2.69.

Same trend here... most stations were at $2.49 on Friday.

Been a good trend here also. Started the week edging up a nickel to 2.59, but by today places have now dropped to 2.39.

Still in the $2.70s around here, though prices have gone down a few pennies...

After holding at 2.90 forever, we have went down to 2.88.

cabman701 wrote:Same here. I paid $2.69 to fill up on Saturday. I noticed today (Monday) one station was at $2.62. Of course, by the time I need to fill up again it will jump up. It never fails!

Just as I predicted, I was down past 1/4 of a tank today and decided I better fill up on the way home from work. Prices were down to as low as $2.49 over the weekend, but all the stations on my route home went up .20 cents today to $2.69. So, I ended up paying the exact same price I did a week and 1/2 ago!

$2.63 at the marathon in Yale.

Shell near my house is $2.73. Around here it is close to that or in the mid-$2.60s

$2.49 as of July 3 at Fry's without any discounts.

Bakersfield being an oil town means I know a few folks connected pretty well in the industry.

The latest run-up in crude prices has been those blasted speculators again. They were buying up huge stocks of cheap crude, betting that the "economic recovery" would make them billions. Unfortunately, there is already a gross oversuppy of crude oil - well, well over the current demand - and the latest job/unemployment reports show there is no recovery.

The word making the rounds among oil execs is that these speculators will tire of paying immense storage fees for all this crude they bought, and dump it back on the market. Hopefully they'll lose billions or trillions, and go away.

$2 a gallon (or a bit less) gas is strongly forseen in the oil business by the end of this year. Barring huge upsets somewhere that is.