Oil prices are dropping. How long before that translates into cheaper gas at the pump?

It may be the same as for the 2006 election. The Oil Producers know that the higher prices may result in a loss of power for their friendly Republican politicians. So the prices may decline until after the election only to spike again after November. It took only 2 days for that to happen after the 2006 election. In 2006 the price decline began near Labor Day so this time they are getting an earlier start seeing how many Congressional seats were lost to the Democrats in 2006.Oil prices are dropping. How long before that translates into cheaper gas at the pump?
They've dropped $6 a barrel and considering the past month events on Wall Street they could just as easily go up $10 tomorrow or next week. It would take a major, sustained drop of say $30 or $40 a barrel, before we would see an effect on pump prices.Oil prices are dropping. How long before that translates into cheaper gas at the pump?
The price of oil is anybodies guess right now. There is definitely a supply and demand problem with China sucking up as much as she is. If we don't drill our own real soon there will be a big problem.
Never. They will even out, then stay about the same until the next time we have an oil baron in office, or another ';crisis';
Don't hold your breath. And don't run out and buy that V-12 SUV either.
Its still going to a while. Prices can rush back up...
a few cents in a week or so. Then watch them go back up.