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Author Topic: Gasoline Leads Slump as Natural Gas Climbs: Commodities at Close Back to Topics
brbaritone
Champion Author
Virginia

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Message Posted: Jan 12, 2013 6:46:51 AM

Gasoline slid the most in two months as Brent crude retreated, lowering the cost of imported crude and motor fuel at a time when U.S. inventories are increasing and demand is stagnant.

Futures sank 1.9 percent as Brent dropped following the startup of the expanded Seaway pipeline, which will bring domestic oil to the Gulf Coast, pushing out imports. Gasoline consumption in the U.S. is the lowest in almost a year and inventories are the highest since February 2011, Energy Information Administration data show.

Gasoline for February delivery fell 5.38 cents to settle at $2.7395 a gallon on the New York Mercantile Exchange, the biggest decline since Nov. 7 and lowest settlement since Dec. 21. Futures declined 0.9 percent this week, the second consecutive loss.

Visit Bloomberg via Yahoo! Finance for full article
REPLIES (newest first) Post a Reply
TripleHs
Champion Author Austin

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Message Posted: Jan 12, 2013 6:40:24 PM

prices way too high
ss70
Champion Author Detroit

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Message Posted: Jan 12, 2013 4:01:53 PM

cheaper gas is needed.
humblepie
Champion Author Toledo

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Message Posted: Jan 12, 2013 1:27:11 PM

just not helping us at the pump
Pramodsharma
Champion Author Richmond

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Message Posted: Jan 12, 2013 10:59:15 AM

This looks to be the right trend.
merlinCO
Champion Author Colorado

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Message Posted: Jan 12, 2013 10:52:51 AM

Supply up, demand down yet price increases......get the speculators out of the market.
Pramodsharma
Champion Author Richmond

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Message Posted: Jan 12, 2013 10:04:38 AM

Do not waste drive, It will save gas and bring gas prices tumbling down. Gas monopoly and we have to buy gas any price thing has gone in their mind
Gas_Eyes
Champion Author Dallas

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Message Posted: Jan 12, 2013 9:24:56 AM

Let's hope that it does not increase too fast towards $4.
cmmattia
Champion Author Long Island

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Message Posted: Jan 12, 2013 9:09:05 AM

keep sliding :)P
skempton
Champion Author Vermont

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Message Posted: Jan 12, 2013 9:01:25 AM

Prices at the pump are up in my area.
dr047
Champion Author Cleveland

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Message Posted: Jan 12, 2013 9:00:35 AM


Yet prices at the pump went UP.
Wally3023
Champion Author Pennsylvania

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Message Posted: Jan 12, 2013 8:31:01 AM

Down, down, down
doeslayersr
Champion Author Illinois

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Message Posted: Jan 12, 2013 8:18:44 AM

A few cents is no slip or slide in price. Now a $30 or $40 decline in the barrel price would be a slip and a slide.
txequitygas
Champion Author Houston

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Message Posted: Jan 12, 2013 8:05:35 AM

doesn't gasoline prices fall in the winter with less purchases?
Yooperheart
Champion Author Michigan

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Message Posted: Jan 12, 2013 7:45:38 AM

Gas does not slump, just lags at times.
peabeax55
All-Star Author Atlanta

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Message Posted: Jan 12, 2013 7:40:59 AM

This article is misleading. Trend is definitely up for crude over the last several weeks.
OHIO50
Champion Author Denver

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Message Posted: Jan 12, 2013 7:27:12 AM

Nat. Gas slumps because of the supply.
pscamp
Champion Author Ottawa

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Message Posted: Jan 12, 2013 7:26:56 AM

OK
FPLREP
Champion Author Virginia

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Message Posted: Jan 12, 2013 7:24:34 AM

With the recent inventory report, it should drop a lot more.
werich44
Champion Author California

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Message Posted: Jan 12, 2013 7:24:19 AM

It no longer makes any difference how low the price of oil gets, gasoline will only continue to go up.
farmboyTN
Champion Author Tennessee

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Message Posted: Jan 12, 2013 7:13:12 AM

The price at the pump has slumped.
SUPERSTEVIEO
Champion Author Quebec

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Message Posted: Jan 12, 2013 6:59:53 AM

so explain the cost at our pumps???????????????????????
grandpadon28110
Champion Author Charlotte

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Message Posted: Jan 12, 2013 6:53:38 AM

Price at pump up 20 cents.
brbaritone
Champion Author Virginia

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Message Posted: Jan 12, 2013 6:51:12 AM

Key points:

1) Brent crude retreated;
2) U.S. inventories are increasing;
3) demand is stagnant;
4) Gasoline consumption in the U.S. is the lowest in almost a year;
5) inventories are the highest since February 2011.

When supply is high and demand is low, prices are supposed to go DOWN. So why are we paying $93 a barrel for oil and over $3.00 a gallon for gasoline? You only get one guess ... and the correct answer begins with the letter 's.'
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