Crude oil fell to a four-week low yesterday after an Energy Department report showed that refineries slashed operating rates as fuel demand declined.
Then why are the pump prices around here the same?
"Gasoline prices fall for fourth day" by Associated Press | January 20, 2010
Falling oil prices are starting to pay off at the pump.
Gasoline prices fell yesterday for the fourth straight day, though the declines have been modest so far.
If at all.
Prices of $2.74 per gallon were less than 2 pennies under the 15-month peak of $2.75 hit on Thursday, according to AAA, Wright Express and Oil Price Information Service.
They are HIGHER THAN THEY HAVE BEEN in OVER a YEAR, and yet I'm getting headlines like these?
Prices still are up 15 cents in the past month and 89.8 cents from a year ago.
With NO DEMAND, folks!
That means YOUR DOLLAR is S***, American!
Gas prices have spiked in the past month on a jump in oil prices. Analyst Tom Kloza said to look for larger declines in gasoline prices over the next few weeks. January and February are typically a period of poor demand for transportation fuels....
Actually, I'm kinda sick of the obfuscating deceptions of the Boston Globe business section.
"Oil prices at one-month low" by Bloomberg News | January 25, 2010
WELLINGTON, New Zealand - Crude oil traded near a one-month low yesterday as sliding equity markets and expectations of interest-rate increases in China dented investor confidence in the strength of the global economic recovery.
OPEC nations must improve their compliance with the group’s output quotas to prevent further pressure on oil prices, Shokri Ghanem, chairman of Libya’s National Oil Corp., said yesterday.
“We’ve seen a pretty significant turn in macro sentiment,’’ said Toby Hassall, commodity analyst at CWA Global Markets in Sydney. Oil “was very much a forward-looking market last year pricing in a recovery. We’ve seen some encouraging signs, and the US certainly is looking a lot better than it was 12 months ago, but that’s a different thing to a material recovery.’’Translation: Despite what government and MSM are telling you, Americans, there IS NO RECOVERY and the UNENDING JOB LOSSES PROVE IT!