The price of oil

Price of oil hit $67.75 earlier today. It has gone back up a little over a buck since for about a $4.60 drop today.

Different that most other tax revenues, when the price of gas goes down and people use more gas, there is more tax revenue because it is taxed per gallon, not per dollar spent.

RandyA

Saw a blurb on the internet (so it must be true), claiming that OPEC is keeping output at current levels to making "fracking" less cost effective/ competitive.

Ya, but according to the news the US oil fracers can make a profit as long as it does not go under $67 barrel!!!

But here our gasoline prices went up 10 cents a litre (45 a gallon) i just don't understand how that happens. The second barrel prices go up gasoline goes up... if barrel goes down it takes weeks for price to drop.

Capitalism at it's finest...

On our recent trip to Vegas we saw gas from $2.80/gal in Oregon to $3.60/gal. in Vegas. It sure was nice to fill up for $50.00 rather than the usual $95.00 here.

It's supposed to drop to below $1 a liter on the weekend here in Ontario.

Filled my truck yesterday at $2.48/gal. in central Illinois.Wished it had been closer to empty.

It's supposed to drop to below $1 a liter on the weekend here in Ontario.

Don't hold you're breath Bubba,,,,, you could end up lying down in a horizontal position.

It's supposed to drop to below $1 a liter on the weekend here in Ontario.

No more deep breathing while filling up.

I saw on the news it dropped to $1.03/litre, or $3.90 a gallon here in Victoria earlier this week. We are for the most part around $1.14/litre, 4.32/gal.

It's supposed to drop to below $1 a liter on the weekend here in Ontario.

UP .05/litre overnight this way.

We are below 99 cents a liter here for the first time in years.. some stations are 94. so I cant remember the multiplier to convert to US gallon, I think its about 3.75 and then our buck is 10% less than the US one is right now..... I have a headache you all will have to figure out your own conversions....

Brian