Oil at $90 per barrel

[Issachar]

Oil Prices Surpass $90 a Barrel for the First Time, but Slip Back in Asian Trading

http://biz.yahoo.com/ap/071019/oil_prices.html

Issachar

[tom_roberts]

the wheels on the bus go round and round

for now............

[Deepcallstodeep]

Had our oil tank filled this morning, the delivery guy says it's going to go up another $10 a barrel. :ohno

[cbressler1976]

:faint I can't even joke about this no more.....this is getting serious!
.....so what do you think the price of gas will be around Christmas time?

[robinhoooood]

:faint I can't even joke about this no more.....this is getting serious!
.....so what do you think the price of gas will be around Christmas time?

Hard to say... these oil prices would support up to $4 a gallon no problem. But demand for gasoline around this time of the year generally flattens out. There will be a little spike in gasoline prices going into the Thanksgiving traveling season... after that it will probably stabalize... I would guess between 2.70-2.90 depending on your location. The biggest thing to worry about is next spring and summer... if oil prices are maintained at this level, and given that we are at the bottom of the 5 year average on gasoline stocks... we could be paying $4+ a gallon very early next year.... scary.

Here is a good site to check out...

http://tonto.eia.doe.gov/oog/info/twip/twip_gasoline.html

[Free in Christ]

I have to ask why gasoline is not going up? Demand is one issue, but I think the big gas companies are putting some price pressure on our ethanol plants. With corn prices so high, ethanol continues to be more expensive than gasoline. There are many ethanol plants being constructed but I have a feeling the big money in oil, and more specifically gasoline, will try to minimize the competition of ethanol. That is what a competitive marketplace is about but I wish we could all be on the same side against middle east oil; we are at war. I am sure there are other factors affecting gas prices, too.

[LambofGod]

Gas is already over $3 at some of our stations here. It went up about 12 cents in one day.

In the winter here some of our gas stations cut the gas with ethanol. My car actually runs more efficiently with the blend and it makes the gas about 15 cents a gallon cheaper, but using ethanol is a catch 22. For the last two years our livestock feed has skyrocketed, as has the price of hay since so many farmers have turned their fields to corn instead of hay.

This is pretty scarey since it is not even wintertime yet when gas usually goes way up.
With our economy on rocky ground this may be the proverbial nail in the coffin for us.

Another note: if you are buying gas from Citco you are supporting communist Venezuela.

[DavidNR]

Shall we stop driving those long distances... How about a telephone call instead?
How about not turning up the heat and wearing long johns and a sweater inside? Change our buying and living habits and the market will adjust.

I don't think we, especially as Christians, should ever go into panic mode over economics.

[Resting]

Gas is already almost $3/gallone here...but it hasn't been skyrocketing along with the price of oil per barrell. It'll probably jump .20 next week...to keep up. The problem is that consumers WILL pay it and just cut back on something else. We have to be able to "go to and fro"...and we will.

Already we budget $200/month for gasoline and I think it's just too much! Basically, I work for one week to pay for gas!

RIDICULOUS!

[Shabach]

I topped off my gas tank today. The Exxon attendant said gas is going up next week. I noticed the Chevron station across the street was 2.89 for premium, and it looked like they were about to change the prices.