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Gas prices in your area?


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$2.06 at a few stations here in OKC area. Diesel is also under $3 in some areas.

 

Read on Fox News though, OPEC wants to slow down production to raise prices back up :angry:

 

That's why I talked about it earlier, it's absolutely ridiculous that they can do this crap. :angry:

It would appear OPEC's attempt at pushing prices back up, back fired

 

Foxnews.com

 

Take that, OPEC.

 

The international oil cartel agreed Friday to cut daily production by 1.5 million barrels in a move to drive up prices on the international market — and, at the gas pump.

 

But, crude oil futures went in the other direction, falling 6 percent Friday in London trading on speculation that demand will continue to fall.

 

Oil fell sharply in morning trading on the New York Mercantile Exchange, with light sweet crude priced for December delivery at $64.40.

 

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It would appear OPEC's attempt at pushing prices back up, back fired

 

Foxnews.com

 

Take that, OPEC.

 

The international oil cartel agreed Friday to cut daily production by 1.5 million barrels in a move to drive up prices on the international market — and, at the gas pump.

 

But, crude oil futures went in the other direction, falling 6 percent Friday in London trading on speculation that demand will continue to fall.

 

Oil fell sharply in morning trading on the New York Mercantile Exchange, with light sweet crude priced for December delivery at $64.40.

They have no one to blame but themselves. Typically, when OPEC reduces output, the individual countries rarely adhere to the production quotas - they almost always produce more than the quotas. Investors and speculators know that - they watch that kind of thing like hawks. They have to figure that there's going to be surplus supplies, so there's no need to bid up the prices.

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