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Oil near $90; drivers see some relief at the pump

mtstandard.com (AP) -- Oil dropped below $90 a barrel for the first time this year Monday, and pump prices dropped 3 cents over the weekend as drivers catch a break after two months of steep increases.

..At one point this winter the price rose for 36 straight days. The 49-cent increase for January and February set a record for that two-month period.

..Spending cuts of roughly $85 billion automatically kicked in on Friday after President Barack Obama and Congress failed to meet a deadline for striking a deal to avert or soften the reductions. Negotiations on Sunday ended in a bitter impasse, and what happens next is anyone's guess.

..In the U.S., refinery maintenance contributed to the early-year spike in gasoline prices. Refineries are switching from winter blends of gasoline to summer varieties, which

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Submitted Mar 05, 2013 By: teafortwo

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honda0105 Champion Author Tallahassee Posts:18,599 Points:1,607,570 Joined:Nov 2008	Message Posted: Mar 8, 2013 12:04:23 AM Ignore honda0105 Report Abuse yea, gs, that's what I thought too when I saw the headline.
gs7101 Champion Author San Antonio Posts:5,513 Points:387,470 Joined:Jun 2009	Message Posted: Mar 6, 2013 6:46:45 AM Ignore gs7101 Report Abuse What relief?
heydano67 Champion Author California Posts:1,661 Points:356,560 Joined:Feb 2012	Message Posted: Mar 6, 2013 3:25:15 AM Ignore heydano67 Report Abuse would like a bigger drop
RitaVespa Champion Author Oregon Posts:2,971 Points:790,310 Joined:Jan 2011	Message Posted: Mar 6, 2013 1:30:11 AM Ignore RitaVespa Report Abuse No relief here.
NHLiveFree Champion Author New Hampshire Posts:11,083 Points:1,621,355 Joined:Jun 2008	Message Posted: Mar 5, 2013 11:47:29 PM Ignore NHLiveFree Report Abuse Always super fast to rise, but a slow death spiral to drop! Wonder why?
lesndave Champion Author Texas Posts:3,032 Points:699,430 Joined:May 2011	Message Posted: Mar 5, 2013 10:59:10 PM Ignore lesndave Report Abuse Relief at pump.....? Really???? .....WHERE?!?!?
snappytom2 Champion Author Corpus Christi Posts:3,541 Points:274,320 Joined:Jul 2008	Message Posted: Mar 5, 2013 6:09:28 PM Ignore snappytom2 Report Abuse All false senses of relief are imaginary.
tutaw Champion Author Kentucky Posts:3,590 Points:840,795 Joined:Sep 2008	Message Posted: Mar 5, 2013 3:29:34 PM Ignore tutaw Report Abuse like to see more relief
KhelbenArunson Champion Author Michigan Posts:4,436 Points:715,915 Joined:Apr 2008	Message Posted: Mar 5, 2013 2:07:55 PM Ignore KhelbenArunson Report Abuse I don't care about oil anymore, I care about the price at the pump.
john72ss Sophomore Author Washington Posts:168 Points:17,655 Joined:Mar 2012	Message Posted: Mar 5, 2013 1:08:25 PM Ignore john72ss Report Abuse what do you mean relief at the pump? do you mean instead of going up 10 cents a week, it only goes up 5 cents a week? how is this a relief?
CapriceWagon All-Star Author Washington Posts:929 Points:477,020 Joined:Feb 2008	Message Posted: Mar 5, 2013 12:23:05 PM Ignore CapriceWagon Report Abuse Prices are still slowly climbing here
tomok Champion Author Portland Posts:32,962 Points:2,343,560 Joined:Aug 2006	Message Posted: Mar 5, 2013 12:08:28 PM Ignore tomok Report Abuse Oil near $90; drivers see some relief at the pump – what relief, where? Big Oil and Big Gas sells fuel and natural gas on the world market! The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - $3, $3.50/gallon or *$4.00 is Not the new low! More Refineries are Not the answer, Stop exporting fuel is! The refineries produce less fuel, create a fuel 'shortage' and prices at the pump go up too. Take care of the domestic fuel market first and above all else, then think about exporting! Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high!
BossPal All-Star Author Illinois Posts:532 Points:238,435 Joined:Mar 2012	Message Posted: Mar 5, 2013 11:53:25 AM Ignore BossPal Report Abuse The more things change, the more they stay the same.
ModelWarships Champion Author Missouri Posts:5,784 Points:1,230,135 Joined:Jul 2008	Message Posted: Mar 5, 2013 11:18:08 AM Ignore ModelWarships Report Abuse just a temporary reprieve until they figure out another reason to spike prices.
StephenOM Champion Author Ocala Posts:2,598 Points:1,296,270 Joined:Aug 2008	Message Posted: Mar 5, 2013 11:09:32 AM Ignore StephenOM Report Abuse An it has nothing to do with sequester. It's a natural follow thru to the refinery reformulation and declining crude prices.
BudsterMO Champion Author Kansas City Posts:3,700 Points:701,980 Joined:Aug 2009	Message Posted: Mar 5, 2013 11:08:44 AM Ignore BudsterMO Report Abuse Blah, blah, blah, just more grist for the speculator mill. Stop Oil Speculation (SOS) NOW!
humblepie Champion Author Toledo Posts:34,147 Points:2,369,420 Joined:Mar 2006	Message Posted: Mar 5, 2013 11:07:20 AM Ignore humblepie Report Abuse pump prices make me want beano
leraar2 Champion Author Massachusetts Posts:3,754 Points:785,730 Joined:Mar 2011	Message Posted: Mar 5, 2013 11:04:30 AM Ignore leraar2 Report Abuse the only gas relief we're likely to see is pepto-bismol.
mazdaboy Champion Author Portland Posts:7,878 Points:2,096,305 Joined:Aug 2003	Message Posted: Mar 5, 2013 11:02:20 AM Ignore mazdaboy Report Abuse Gas not going down here.
dan30thz28 Champion Author New Jersey Posts:5,903 Points:1,980,065 Joined:Feb 2006	Message Posted: Mar 5, 2013 10:57:23 AM Ignore dan30thz28 Report Abuse Whatever, they're just making a huge profit on us. Thanks speculators!
PDQBlues Champion Author San Diego Posts:7,064 Points:1,446,375 Joined:Jan 2009	Message Posted: Mar 5, 2013 10:56:20 AM Ignore PDQBlues Report Abuse Gas prices are coming down, not as quickly as they increased, though.
RockCity Champion Author Denver Posts:7,900 Points:1,425,910 Joined:Mar 2009	Message Posted: Mar 5, 2013 10:54:38 AM Ignore RockCity Report Abuse Sounds like we have a bunch of 47%ers wanting free stuff, perhaps.
Don20 Champion Author Oklahoma City Posts:9,662 Points:2,617,680 Joined:Mar 2005	Message Posted: Mar 5, 2013 10:54:09 AM Ignore Don20 Report Abuse Yes it went down three cents in this area, if you can call that relief at the pump..
fenster66 Champion Author Pittsburgh Posts:3,345 Points:673,115 Joined:May 2011	Message Posted: Mar 5, 2013 10:45:06 AM Ignore fenster66 Report Abuse hope it keeps going down....
Grumpy0521 Champion Author Ontario Posts:2,066 Points:749,560 Joined:Dec 2008	Message Posted: Mar 5, 2013 10:42:45 AM Ignore Grumpy0521 Report Abuse It's funny how the price of oil go down per barrel but so much at the pumps.
jalan25 Champion Author Indianapolis Posts:2,330 Points:568,995 Joined:Sep 2011	Message Posted: Mar 5, 2013 10:42:29 AM Ignore jalan25 Report Abuse Not holding my breathe.
Tattooedmom67 All-Star Author Milwaukee Posts:926 Points:181,890 Joined:Apr 2012	Message Posted: Mar 5, 2013 10:42:27 AM Ignore Tattooedmom67 Report Abuse Why can't it jump down the way it jumps up? It goes up 5 - 10 cents everyday or other day, it goes down 1 penny at a time..go figure!!!
dlemma Champion Author Wyoming Posts:4,096 Points:1,553,070 Joined:Feb 2008	Message Posted: Mar 5, 2013 10:40:45 AM Ignore dlemma Report Abuse DRILL HERE DRILL NOW
dlzastera Champion Author Minnesota Posts:4,500 Points:1,021,395 Joined:Mar 2006	Message Posted: Mar 5, 2013 10:40:35 AM Ignore dlzastera Report Abuse Wait till summer comes.
gafgar Champion Author Detroit Posts:1,053 Points:327,540 Joined:Feb 2012	Message Posted: Mar 5, 2013 10:39:24 AM Ignore gafgar Report Abuse until someone farts in the middle east, and/or big oil sees the need to increase their greed margin.
SqrKpf Champion Author Toronto Posts:1,915 Points:387,635 Joined:Oct 2010	Message Posted: Mar 5, 2013 10:37:55 AM Ignore SqrKpf Report Abuse relief? what relief??
MarkJM Champion Author Little Rock Posts:1,443 Points:1,344,280 Joined:Oct 2005	Message Posted: Mar 5, 2013 10:36:57 AM Ignore MarkJM Report Abuse the only relief I see is a reduction in my spendable income.
Costello Champion Author South Dakota Posts:1,401 Points:1,152,490 Joined:Jan 2007	Message Posted: Mar 5, 2013 10:36:36 AM Ignore Costello Report Abuse Not here...still going up!
dcoxdcox44 All-Star Author New Hampshire Posts:627 Points:199,785 Joined:Aug 2011	Message Posted: Mar 5, 2013 10:35:11 AM Ignore dcoxdcox44 Report Abuse Everybody complains when prices go up. So what do you do when prices go down? Complain some more! [Edited by: dcoxdcox44 at 3/5/2013 10:35:42 AM EST]
KarateDude Champion Author Cincinnati Posts:2,487 Points:834,835 Joined:Mar 2008	Message Posted: Mar 5, 2013 10:35:05 AM Ignore KarateDude Report Abuse What relief??? I am being relieved of my hard earned cash!!!
truckpdlr Champion Author Tucson Posts:2,942 Points:1,094,205 Joined:Sep 2009	Message Posted: Mar 5, 2013 10:34:45 AM Ignore truckpdlr Report Abuse Still waiting to see relif at the pump
sm5240 Veteran Author Orange County Posts:442 Points:383,525 Joined:Apr 2011	Message Posted: Mar 5, 2013 10:34:07 AM Ignore sm5240 Report Abuse A little reprieve before summer driving season - big deal.
w4kh Champion Author Tennessee Posts:11,660 Points:2,227,040 Joined:May 2004	Message Posted: Mar 5, 2013 10:33:58 AM Ignore w4kh Report Abuse The economics of running a filling station mean that they must rapidly increase pump prices when crude oil goes up in order to be able to pay for the next (higher priced) load of gasoline... however, once the tanks are full of the higher priced gasoline, if crude oil prices drop, the station owner still has high priced, expensive gasoline and must sell it at higher prices or lose money on each gallon sold. Tough business, being caught between Big Oil and the consumers.
freedomsailor Champion Author Naples Posts:2,119 Points:408,870 Joined:Oct 2011	Message Posted: Mar 5, 2013 10:33:56 AM Ignore freedomsailor Report Abuse Yup, our prices for regular, on average, have dropped .01 cents this week.
BuddhaB Veteran Author Colorado Posts:270 Points:179,685 Joined:Oct 2008	Message Posted: Mar 5, 2013 10:33:41 AM Ignore BuddhaB Report Abuse Some is the key word in that headline
91_Metro_Man Champion Author Ventura Posts:1,817 Points:1,567,485 Joined:Dec 2007	Message Posted: Mar 5, 2013 10:33:25 AM Ignore 91_Metro_Man Report Abuse Fuel prices should go down as fast as they went up. not.
Asbury09 Champion Author Iowa Posts:7,203 Points:1,528,355 Joined:Jan 2009	Message Posted: Mar 5, 2013 10:32:12 AM Ignore Asbury09 Report Abuse prices are down a little, but have a way to go to hit the level before the last spike
paoli8 Champion Author Philadelphia Posts:7,076 Points:1,818,720 Joined:Jul 2007	Message Posted: Mar 5, 2013 10:31:06 AM Ignore paoli8 Report Abuse We have heard all the excuses before. Why is it that all refineries bust be shut down for maintained at the same time
humblepie Champion Author Toledo Posts:34,147 Points:2,369,420 Joined:Mar 2006	Message Posted: Mar 5, 2013 10:31:05 AM Ignore humblepie Report Abuse is this a joke ?
freedom2831 Veteran Author Seattle Posts:450 Points:1,169,980 Joined:Oct 2008	Message Posted: Mar 5, 2013 10:30:06 AM Ignore freedom2831 Report Abuse Prices are still going up in Seattle.
2962 Champion Author Omaha Posts:1,052 Points:394,235 Joined:Feb 2006	Message Posted: Mar 5, 2013 10:29:50 AM Ignore 2962 Report Abuse Does this mean we need to go into a recession to see price decline?
JMW1942 All-Star Author Michigan Posts:561 Points:405,020 Joined:Feb 2012	Message Posted: Mar 5, 2013 10:29:22 AM Ignore JMW1942 Report Abuse At $89 a barrel gas used to be around $3.25 a gallon. We dropped 10 cents in thumb of Mi. Stations say they have to sell high price gas first, but it doesn't work that why if oil goes up a buck a barrel.
HDUltra03 Champion Author Oregon Posts:9,201 Points:2,206,400 Joined:Nov 2005	Message Posted: Mar 5, 2013 10:28:18 AM Ignore HDUltra03 Report Abuse When?
marion1739 All-Star Author Missouri Posts:819 Points:258,410 Joined:Jan 2011	Message Posted: Mar 5, 2013 10:27:55 AM Ignore marion1739 Report Abuse Okay
liao Champion Author Montreal Posts:3,437 Points:1,426,285 Joined:Sep 2008	Message Posted: Mar 5, 2013 10:27:51 AM Ignore liao Report Abuse Not in Montreal where the posted price is 144.9 cents per litre today.