How/why is it suddenly possible for the drastic drop in gas prices when not only the economy is crazy in a way that usually make gas prices worse but also Tanker carrying $100m oil pirated - The Irish Times - Tue, Nov 18, 2008
Last time I remember oil being lost it made the prices sky rocket.
Just doesn't make any sense to me how they can honesty raise the price the way they did over the years and then for not much apparent reason it drops lower than it has been in a long time! When was the last time we saw $1.89

And I thought we were doing good here at $0.76 a litre!

NoHelp - the tanker had nothing to do with anything, prices or whatever. The pirates of Somalia take tankers all the time as well as lots and lots of cargo ships. They've been doing this for years. It's only when the Saudis are involved does everyone get all upset.

The prices went up due to the speculators. Now they have cashed out and gone elsewhere. I, for one, can remember the gas crisis back in the early 70's where you could only fill up your car according to your license plate on certain days. Stupid.

I keep seeing the prices here fall every day. It's $1.75 and falling like a rock here. I wish the price was back to $1.00 per gallon like it was back in 1998 where you could fill up your car and not have to worry about eating that week or not. Not too long ago I was paying $220 per month for gasoline just to go back and forth to work (40 mile round trip times 6 days). Now I have about $100 extra per month to buy food or pay bills with.

The prices went up so all the oil folks could make zillions before Bush Baby leaves office. There is no gasoline shortage or running out of oil either. It was also a way for people to have to part with their gas guzzlers. Most people here dumped their huge monster pick up trucks or vans. They were at the side of the road with for sale signs on them in droves. The little economy cars sold like hotcakes here.

It was also a way for everyone to be brainwashed into buying those smaller cars. What better way to have everyone own small cars with no back seats or no cargo areas when they have to go homeless and cannot take any of their possessions (or damned few) with them or even essential living items to survive with. Think about it.

Yeah it just seems odd to me that the price can drop so fast for no apparent reason. Even the speculators, you would think, wouldn't speculate something like that.
Brainwashing us into buying smaller cars I think covers a good bit of it but the more they tried to push smaller cars on us the more people went for the SUV's. The small cars didn't really make sense to me when it comes to a whole family trying to go on vacation, an outing or something. Like you want to go somewhere and you have 6 people but your car only holds 4 or maybe 5.

Gas went up so high, that people LEARNED to conserve. Now they aren't buying. Gas went down in price.

It is simple supply and demand. Prices have gone down because the suppliers were producing to keep up with demand .When the economy rather rapidly declined ,demand reduced. Americans drove almost 11 billion fewer miles in September.Now there is an excess amt. of inventory on the market.

Don't get used to it. Yesterday oil futures increased .OPEC is holding an informal meeting later this month ahead of an official meeting in December. OPEC President Chakib Khelil has signaled they may announce production cuts at the December meeting.Iran wants cuts now.

That is why investors have not reacted to the tanker incident and Chevron invoking "force majeure" Tuesday on 90,000 barrels a day of Nigerian production after a pipeline was damaged by militants in the Niger Delta.

My biggest concern is that people will forget the rapid increase in prices earlier this year and will forget their calls to the government to creat an energy independence policy.

Oh I guess it may be my 'fault' then cause my van was broke down for the past year and now I just bought a truck so yeah I think that a barrel or two saved may have been thanks to me.