Oil prices plummet more than $6 amid economic fear

[gunslingingbird]

NEW YORK - Oil prices fell harder than they have in 17 years Tuesday, as fears that record fuel prices are spreading broad economic pain exacerbated the third big sell-off in just over a week.

Light, sweet crude plunged $6.44, or 4.4 percent, to settle at $138.74 a barrel in an extremely volatile session. Prices at one point plummeted more than $10 from the day's high.

Isn't it great how the price of oil drops, but the price of gas doesn't?

Story

 

[icerfan]

Isn't it great how the price of oil drops, but the price of gas doesn't?

You need to read the second to last paragraph again:

In other Nymex trading, heating oil futures fell 14.59 cents to settle at $3.919 a gallon, while gasoline futures tumbled 17.29 cents to settle at $3.3848 a gallon.

:2 cents:

 

[Torre82]

In other news, baby oil was rubbed on my penis and rose to a staggering.. um.. where's my tape measure?

::mumbles from the next room::

Naw babe, I gotta measure it for the NASDAQ or the NYSE or something.

::more mumbles::

No dear I'm not cybering again. Why, why you gotta ...

::mumbles::

.. no I havent talked to her in months. Dont be crazy.

::looks down and notices my stock is now tumbling::

Ya know what, NEVERMIND! It doesnt even matter now!

 

[senob44]

^ Torre you fucker! You had me ROLLING again! Two times in what like 3 days? :rofl:

Isn't it great how the price of oil drops, but the price of gas doesn't?

You need to read the second to last paragraph again::2 cents:

True, icer, gasoline futures dropped, but I think gsb was referring to actual prices at the pump or the national retail average price. I would say give it a week or two or three and we SHOULD see a drop at the pump.

 

[Torre82]

^ Torre you fucker! You had me ROLLING again! Two times in what like 3 days? :rofl:





True, icer, gasoline futures dropped, but I think gsb was referring to actual prices at the pump or the national retail average price. I would say give it a week or two or three and we SHOULD see a drop at the pump.

Wasnt my fault. I'm just doing my civic duty.

 

[Dean Wormer]

True, icer, gasoline futures dropped, but I think gsb was referring to actual prices at the pump or the national retail average price. I would say give it a week or two or three and we SHOULD see a drop at the pump.

Provided the price stays at that level for a while. Keep in mind that the price that was quoted is the same as oil was trading for just 7-10 days ago.