# Oil Crashes $1.60 to Under $55 Per Barrel. lowest level in a year-and-a-half

**URL:** <https://forums.speedlife.net/t/oil-crashes-1-60-to-under-55-per-barrel-lowest-level-in-a-year-and-a-half/22814>\
**Category:** NYSpeed Off Topic\
**Created:** [January 9, 2007, 11:42am UTC](https://forums.speedlife.net/t/oil-crashes-1-60-to-under-55-per-barrel-lowest-level-in-a-year-and-a-half/22814 "2007-01-09T11:42:51Z")\
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**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\
**Post date:** [January 9, 2007, 11:59am UTC](https://forums.speedlife.net/t/oil-crashes-1-60-to-under-55-per-barrel-lowest-level-in-a-year-and-a-half/22814/5 "2007-01-09T11:59:15Z")

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Don’t really need a formula. Supply and demand.

One of the big users of oil, in the form of fuel oil, is the North East. The North East has been really warm so far, so they aren’t using anywhere near as much. Less demand = less cost.

I’d like to know why the price of gas hasn’t fallen accordingly though. Probably a combination of NY and their gay boutique winter blends and refinery capacity.

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