| Submit your comments on this article |
| Home Front Economy |
| Oil nudges under $60 a barrel |
| 2006-09-25 |
 Oil prices fell to a new six-month low below $60 a barrel on Monday as news of BP restoring output at Prudhoe Bay added to a sense of healthy global supplies. U.S. light, sweet crude for November Previous frontmonth October was reported last week to have fallen as low as $59.80 a barrel on September 20, but detailed NYMEX trade data on its website showed the contract hit a low of $60.05 a barrel in Globex trade and $60.00 in open-outcry pit trade. |
| Posted by:Fred |
| #10 Distance from the refinery isn't that important. Prices in Farmington NM are still unreal, and they are close to refineries in Bloomfield and Gallup, both of which are operating at limited capacity, and which send their product to Phoenix anyway. The whole state of NM lives under similar conditions, a fair amount of refining capacity & prices higher than the US average. |
| Posted by: Anguper Hupomosing9418 2006-09-25 16:38 |
| #9 It's also with NY cost of doing business and affluence. Oil companies price by zone based on customers ability to pay. Go to the stix, farthere from the refinery and the price declines. Ask yourself, why? |
| Posted by: Nimble Spemble 2006-09-25 14:54 |
| #8 With NY taxes, it was $2.70 at the cheaper stations this AM. ugh. |
| Posted by: lotp 2006-09-25 14:41 |
| #7 I bought last night at Costco for $2.08. Of course, this morning, it was $2.12 almost everywhere (Costco's usually 4-5 cents cheaper) here in "da ATL." Dropping, dropping, dropping....that darn Rove/Halliburton plot seems to be working. |
| Posted by: BA 2006-09-25 14:02 |
| #6 Mike, the indepedants or their suppliers are probably hedging against the current spot price and hence can sell their inventory purchased at higher prices at the spot price equivalent, which a couple of hours ago was at $59.60. |
| Posted by: phil_b 2006-09-25 08:07 |
| #5 That low, Mike? Damn....and I was so happy it was hovering around $2.35 here. But remember....this isn't good news at all. No sirree. It's going to encourage the rubes to drive, thereby increasing global warming, and...and....well, it's a friggin' quagmire, I tell ya!! |
| Posted by: Swamp Blondie 2006-09-25 08:00 |
| #4 Mike, How many refineries do you have in SC? The stations are retail distributors who all buy gas from the same refineries. The independents just have lower operating costs, especially marketing, and aren't captive customers of a branded refinery. Ever see your local independent underwrite any PBS (Petroleum Broadcasting System) crap? |
| Posted by: Nimble Spemble 2006-09-25 07:38 |
| #3 ..Already is here in SC - $1.98 on Saturday, and I expect $1.95 today. Interestingly enough though, the lowest prices here are from the independents, which kinda surprises me. I was always under the impression that they were more ezpensive. By way of comparison, Sunoco is $2.09 and ExxonMobil is between $2.15 and $2.20. Mike |
| Posted by: Mike Kozlowski 2006-09-25 07:27 |
| #2 Well, most places besides San Diego. |
| Posted by: RWV 2006-09-25 00:37 |
| #1 I'm betting that gas will be below $2/gallon by election day. |
| Posted by: RWV 2006-09-25 00:37 |