Well that was fun
Nymex Crude Future 79.15 -2.04
I’m curious how long does it take for the prices at the pump to drop after the stock drops. Seems like it takes over a month or so. I cant remember where gas prices were at $80/barrel but I would think under $2/gallon.
Looks like gas was about 3.20 or so last time it was at $80 a barrel.
$75
I think I’m going to have this chart printed out on a marble tablet, and the next person that bitches that gas doesn’t fall in a one to one relationship with oil is going to be beat to death with it.
It’s a good thing gas doesn’t follow oil 1:1 because if it did we would have hit $6.70+ a gallon for regular unleaded in Buffalo.
why am i paying so much for gas…
had to
This is awesome. This silver lining on the crashing market. Hopefully it gets below 70 today. That would be awesome and make people not care about the stock market.
“Oh well, I have lost 100k in the last 2 months in the stock market but hey, I am only paying $2.10 for gas!”
ok cash price for heating oil…i got a quote of $2.76 today. Everyone else wants 3.50 - 3.60 for a fixed rate…so forget that. And the fixed rate guys will only do 3.34 on the cash price.
I can probably go another month before I need a full fill. Should I fill up now, or wait the month?
wait the month.
If it was me I’d wait. I think like gasoline heating oil is still catching up to the nose dive crude prices took.
My mom called last night to say thanks for the advice I gave her about not locking in at $5. When heating oil was at an all time high the lock in vultures were out going door to door trying to get people to lock in. They knew full well oil was priced way above market value and more than likely wouldn’t hold those prices for long.
$2.76 is a tougher call though. Up or down I doubt you’ll see it make a huge swing in either direction.
IMO you might want to wait. Heating oil is on the down swing to 2.20 ish but I am not sure the delay between the price now and when you actually see the prices when you buy it.
I guess the bigger question is just to stick it out with cash/market price this season over any fixed rate ?
2.20ish from 2.70 is big. I figure every 10 cent difference is approximately $100-150 to me over the winter.
Big ouch
Nymex Crude Future 70.08 -4.46
Really dont want to see it drop much further…
yikes. they are gonna make a (fucillo) HUGE cut in production
Im sooooo close to grabbing up some oil and nat gas for a long term investment.
HOLY SHIT. OIL IS IN THE 60’s.
I think if it gets to 65, im gonna buy some up and hold onto them becuase OPEC wont let this last and will get it back up over 100.
ehh there is speculation that it could dip into the 50s. If the economy really tumbles and overall we end up on a recession/depression that would be the time to buy! :lol:
you may not have noticed, but we are already in a recession.
ruh roh
Nymex Crude Future 71.18 -3.07
could get badddd lol
meh … it will be up to 125ish soon