Old Project Avalon Forum (ARCHIVE) - View Single Post - Crude oil falls to $33 a barrel> dollar stronger/demand declines/stockpiles increase

DoctorWho · 01-24-2009, 04:09 AM

Here in my area, when oil was around $55 a barrel at Thanksgiving, gas was $1.49 a gal. Now with oil around $45 a barrel (and lower), gas at the cheapest is $1.84-1.85 a gal. This difference is probably due to two reasons: 1) the oil companies are keeping gas prices 40-50¢ higher to compensate for losses they are getting with the low crude oil prices, 2) the recent stock market volatility, lowered confidence in the US $, and the bailouts have devalued the dollar, making gas prices higher than in November because of inflation.
Bill "the Doctor"

01-24-2009, 04:09 AM	#10
DoctorWho Avalon Senior Member Join Date: Sep 2008 Location: Central, IL Posts: 395	Re: Crude oil falls to $33 a barrel> dollar stronger/demand declines/stockpiles incre Here in my area, when oil was around $55 a barrel at Thanksgiving, gas was $1.49 a gal. Now with oil around $45 a barrel (and lower), gas at the cheapest is $1.84-1.85 a gal. This difference is probably due to two reasons: 1) the oil companies are keeping gas prices 40-50¢ higher to compensate for losses they are getting with the low crude oil prices, 2) the recent stock market volatility, lowered confidence in the US $, and the bailouts have devalued the dollar, making gas prices higher than in November because of inflation. Bill "the Doctor"