Better Fill up today

[frawin]

Crude Oil traded down again yesterday and is trading down this morning in overnite access. There should be some drop at the pump, be it minor, showing up.
Frank

[Wilma]

Somebody on TV yesterday said as an interesting fact that when Bill Clinton left office, gasoline prices averaged $1.51 a gallon.  Is that a 100% increase?  And the big people are looking into why food prices have risen 15%.

[sixdogsmom]

My tongue is in my cheek as this is said; we only had a 2.5% inflation rate last year. That is the Social Security increase anyway. I wonder how they expect everyone to cope with these inflation rates, and how they will get respun when it comes January!? We are going to put the stimulus check away to cope with the gas bill this winter. Probably use it all up in a months' time. 

[frawin]

OIL IS TRADING AT NEW HIGHS TODAY, CURRENTLY IT IS AT $121.69/BARREL.

By Jane Merriman

LONDON (Reuters) - Oil stood firm on Tuesday after setting a new record high of nearly $121 a barrel, the latest spurt in an advance that has seen prices double over the past 12 months.

Supply disruptions in Nigeria, where a strike and attacks by militants has hit production, has supported a market that is nervous about any threats to supply.

Tensions with Iran ratcheted higher when the world's fourth-biggest oil producer refused to accept intrusive inspections of its nuclear program that the West fears could be linked to weapons.

U.S. light crude for June delivery was up 7 cents at $120.04 a barrel, by 7:55 a.m. EDT after earlier touching a record high of $120.93.

London Brent crude was up 33 cents at $118.32 a barrel, after an earlier record of $119.07.

Gold was also strong, as oil's advance helped spur a rebound from a four-month low last week. But gold is still some way below a record of $1,030.80 an ounce reached on March 17.

"The downward move in oil last week now seems like only a correction," said Christopher Bellew, senior vice president at Bache Commodities.

"The effect of the credit crisis in the United States is reducing people's disposable incomes and you'd expect this to have an impact on the oil price, but it's not having any impact."  Continued...

[flo]

I needed lawnmower gas yesterday so just filled up the vehicle too.  I don't see, with travel season coming on, fuel prices dropping very much.  Famous last words since I filled up, probably.

[frawin]

Oil has traded at $122.00/Barrel this A.M.
Frank

[frawin]

Crude settled at new highs for June, July, August and September contracts. The front Month June settled at $122.35/Barrel with lots of Long contracts.
Frank

[Diane Amberg]

choke...

[sixdogsmom]

We went to Kansas City yesterday for doctor appointments today. Gas here at Moline was $3.59, $3.45 at Severy, and $3.36 in North Kansas City yesterday. When we left for the hospital this morning, it was $3.46 at the same Quick Trip we filled at the night before. How are we gonna continue? We had a not too good supper at the Beto Junction Buffet tonight; it cost almost $25.00. W0W!!! Beans the rest of the month! 

[Diane Amberg]

And dry, not canned at that...saw some today for $3.76. Ouch!!!!