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Re: Gas prices 

By: monkeytrots in 6TH POPE | Recommend this post (3)
Sat, 02 Dec 23 9:04 PM | 39 view(s)
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Msg. 47946 of 58531
(This msg. is a reply to 47899 by Decomposed)

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Easy answer. Oil price down dramatically from mid to high 90's to mid 70's. Drop in world demand, increase in supply, China's reserves pretty well topped off, Cushing reserves significantly replenished, Iran oil (3-5 mbopd) now on open market due to J F'inf Biden's treason and so on. Saudi cuts in prod (really, Saudi production levels are impossible to prove and are a tightly guarded Saudi state secret so take any news about their production cuts/increases with a HUGE block of salt) .... and so on.

Simple answer: Supply up, world demand down. Basic economics.




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The above is a reply to the following message:
Gas prices
By: Decomposed
in 6TH POPE
Fri, 01 Dec 23 12:31 AM
Msg. 47899 of 58531

Do any of you know why gas prices have fallen? I haven't heard anything, but we're taking advantage of it. We tanked up the car today and will order heating oil refills for Monday - if diesel has dropped the way gasoline has. That's not always a safe assumption.



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