Oil drops below $54 a barrel. Price of gas jumps.

[El Tejon]

Might I suggest Wealth of Nations - Adam Smith, Free to Choose - Milton Freidman and/or Freedomomics by John Lott to explain why gas prices rose on one of the busiest travel week(end)s of year.

You and your laws. man!  You probably believe in clocks and calendars too.

I have better things to do than read economics books, like sitting in my mom's basement watching Star Trek in my wookie suit demanding that people give me things.

What does it matter anywho?  Come January 21, 2009, the goverment will just give me gasoline anyway.

[charby]

Oil PPB went below $50 at the close of trading on the NY merchantile exchange this afternoon.

Didn't it close below $45 last monday?

[Headless Thompson Gunner]

Gas prices fluctuate.  They always have, they always will.  It isn't gouging, it's normal.

Accept that you neither know nor understand the many factors that determine the pump price of gasoline.  It's a wee bit more complicated than "prices are higher today than they were yesterday, and price gouging is the only possible explanation."

[K Frame]

Didn't it close below $45 last monday?

No.

Brent Sea crude might have (I don't think it did, thought).

Right now oil is trading at about $48 a barrel, its lowest point on any of the mercantile exchanges in 3 years.

[MicroBalrog]

Brent Closed at 47. The other types closed at 49 point something.

[MillCreek]

An interesting opinion piece on the future of OPEC.  Especially of note are the comments as to the economies of Iran and other countries that did budget planning based on the price per barrel being much higher than currently.

PS:  Oops, forgot link.  Thanks, Mike.  http://articles.moneycentral.msn.com/Investing/JubaksJournal/are-we-watching-the-death-of-opec.aspx

[K Frame]

Hey Mill,

Were you intending to add a link to your message?