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Thread: OIL Crude dips below USD$34......

  1. #1

    Default OIL Crude dips below USD$34......

    http://www.channelnewsasia.com/stori...397577/1/.html

    http://www.oil-price.net/

    It has dip to a 40 year low......I am just hoping the Garment will lower some of the prices which is in direct contact with the fuel prices. I know it's not a immediate effect but I hoping by lowering it down will be a great benefit for the less fortunate/lower income people.

    If they don't, it means they are earning more than before....now that the public transport has more people riding on it, it means more $$$$$....for them.

    Although we see a 25% dip in next month's electricity bills but it's still a lot to pay for. Have been cutting down on the normal usage.....hope you all have done the same too.

  2. #2
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    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by Godzilla Invades View Post
    http://www.channelnewsasia.com/stori...397577/1/.html

    http://www.oil-price.net/

    It has dip to a 40 year low......I am just hoping the Garment will lower some of the prices which is in direct contact with the fuel prices. I know it's not a immediate effect but I hoping by lowering it down will be a great benefit for the less fortunate/lower income people.

    If they don't, it means they are earning more than before....now that the public transport has more people riding on it, it means more $$$$$....for them.

    Although we see a 25% dip in next month's electricity bills but it's still a lot to pay for. Have been cutting down on the normal usage.....hope you all have done the same too.
    Ummm, you mean 4 years low right
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  3. #3

    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by kelccm View Post
    Ummm, you mean 4 years low right
    Yeah....sorry.....typo error......too kan chiong liao....

  4. #4

    Default Re: OIL Crude dips below USD$34......

    fat hope!!! those arab countries will cut output citing low value of oil, depreciating the oil. what happen next, it will shoot up again. OPEC and them are in the same cahoot. they have reduce 2million rite?

    another possibility is the US got no money to buy for storing or speculate.

  5. #5
    vince123123
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    Default Re: OIL Crude dips below USD$34......

    Actually, there's no 25% dip; it was just reset back to near the price it was before the price hike.

    Quote Originally Posted by Godzilla Invades View Post
    http://www.channelnewsasia.com/stori...397577/1/.html

    http://www.oil-price.net/

    It has dip to a 40 year low......I am just hoping the Garment will lower some of the prices which is in direct contact with the fuel prices. I know it's not a immediate effect but I hoping by lowering it down will be a great benefit for the less fortunate/lower income people.

    If they don't, it means they are earning more than before....now that the public transport has more people riding on it, it means more $$$$$....for them.

    Although we see a 25% dip in next month's electricity bills but it's still a lot to pay for. Have been cutting down on the normal usage.....hope you all have done the same too.

  6. #6
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    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by dreaming View Post
    fat hope!!! those arab countries will cut output citing low value of oil, depreciating the oil. what happen next, it will shoot up again. OPEC and them are in the same cahoot. they have reduce 2million rite?

    another possibility is the US got no money to buy for storing or speculate.
    Honestly, I wonder when OPEC decides to cut output will all its members comply with the regulations... not all members of OPEC are rich countries... some of them are actually pretty poor so they may even max their output regardless of what OPEC set just to get some extra pocket money... Also, 1 thing to remember... now its winter... usually in winter, the demand is not as great compared to summer months... Bottom line.. I hope the petrol prices drop the the price of 1999... I remember that time I just came to US and gasoline is like 89 cents a gallon...

  7. #7

    Default Re: OIL Crude dips below USD$34......

    To expect oil related prices to fall quickly and by a noticable margin is really pushing your luck .... in other words FAT HOPES ....

    Usually the various governments and other "bodies" will cite different reasons for the slow and small trickle down effect ... By the time it hits consumers it would be minimal impact.

    If you recall the number of price hikes at the gas pump, the taxi fares and the public transport ... where id the reduction when the Crude price falls ... There are again other reasons cited for maintaining these high transport prices ...

    Haiz ... Easy to raise prices ... Difficult to see it come down.
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    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by vince123123 View Post
    Actually, there's no 25% dip; it was just reset back to near the price it was before the price hike.
    I agree with this point.
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    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by Long Thai Bean View Post
    To expect oil related prices to fall quickly and by a noticable margin is really pushing your luck .... in other words FAT HOPES ....

    Usually the various governments and other "bodies" will cite different reasons for the slow and small trickle down effect ... By the time it hits consumers it would be minimal impact.

    If you recall the number of price hikes at the gas pump, the taxi fares and the public transport ... where id the reduction when the Crude price falls ... There are again other reasons cited for maintaining these high transport prices ...

    Haiz ... Easy to raise prices ... Difficult to see it come down.
    Well said... and to add on to that... when people complain or cannot afford, various governments would say.. "we got to tighten our belts"

  10. #10

    Default Re: OIL Crude dips below USD$34......

    The worse part is even when we tighten our belts as much as we can, it's still quite bad for the poor/less fortunate.

  11. #11

    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by Long Thai Bean View Post
    To expect oil related prices to fall quickly and by a noticable margin is really pushing your luck .... in other words FAT HOPES ....
    Mr Lee Said: " You are luck if the electric tariff falls to level before the Oct."
    So you are aleary very lucky.
    Last edited by Silence Sky; 21st December 2008 at 03:26 PM.

  12. #12

    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by Long Thai Bean View Post

    Usually the various governments and other "bodies" will cite different reasons for the slow and small trickle down effect ... By the time it hits consumers it would be minimal impact.
    This is called smoothing out the bumps and hikes.
    We want to have predictable and stable prices, now you have it.
    If tomorrow the Oil price goes up to $40, you will still pay the current price.
    Last edited by Silence Sky; 21st December 2008 at 03:29 PM.

  13. #13

    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by Long Thai Bean View Post
    If you recall the number of price hikes at the gas pump, the taxi fares and the public transport ... where id the reduction when the Crude price falls ... There are again other reasons cited for maintaining these high transport prices ...

    This is called value added services.
    Petrol stations do not shine our tyre and clean your wind screen for free.
    The GPS system telling you that your bus will be late is not free either.

    You are not short changed, you are paying for the valuabe services.

  14. #14

    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by Silence Sky View Post
    Mr Lee Said: " You are luck if the electric tariff falls to level before the Oct."
    So you are aleary very lucky.
    well that statement was made when nobody expected crude oil would go down below 34US$. Now the price does drop.

  15. #15

    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by MrJelly View Post
    well that statement was made when nobody expected crude oil would go down below 34US$. Now the price does drop.
    That statement was made when world oil speculators are winding up their long positions and OPEC is contemplating a major production cut. The whole world is expecting the Oil price to plummet.

    By the way, check the date, it will tell you the Oil price is only $60+ when this statement is made. The oil price was USD$73.3 for the July-Sept electricity triff.

  16. #16
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    Default Re: OIL Crude dips below USD$34......

    so how? anybody MO?

  17. #17
    Senior Member glennyong's Avatar
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    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by sORe-EyEz View Post
    so how? anybody MO?
    u start lor.. MO for crude oil... let me know. i take 100 barrels if it drops till $25, and keep and wait until shoot up. den sell.

    fat hope i guess.

  18. #18

    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by glennyong View Post
    u start lor.. MO for crude oil... let me know. i take 100 barrels if it drops till $25, and keep and wait until shoot up. den sell.

    fat hope i guess.
    You know any refiners that will do refining on the side ? MO crude not much use.... MO petrol or power got ?

    Haha.... idea hor ?
    Snap ?

  19. #19

    Default Re: OIL Crude dips below USD$34......

    is that the current spot price or the futures contract?
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  20. #20
    Senior Member glennyong's Avatar
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    Default Re: OIL Crude dips below USD$34......

    Quote Originally Posted by ianwurn View Post
    You know any refiners that will do refining on the side ? MO crude not much use.... MO petrol or power got ?

    Haha.... idea hor ?
    singapore got shell and exxon what... chevaron texaco counted ?

    i have a friend in exxon.... hahahahahhhaahhahahhahahhah

    buy also can. where to keep ?!

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