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Oil at $80 per barrel but no hike at pump

lil dickie said: "Thats the word according to this article. No hike at the pump, at least for the [url=http://money.cnn.com/2007/09/17/news/economy/gas_prices/index.htm]short term[/url] [quote] "Gasoline season is over, we're going into low demand time," said Stephen Schork, publisher of the industry newsletter the Schork Report. Schork also said the switch to winter blend gasoline should act to keep the price down, as winter blending components aren't as expensive as cleaner-burning summer blends. "They are paying up in crude oil, but paying down in feedstocks," he said. Of course, he prefaced his statement with "barring another hurricane," and said if oil remains near record highs into the winter, gas next year could set new record prices of its own. One trader doubted oil prices will stay at the current record highs. "If $80 a barrel holds, then it will trickle down to the pump," said Sal Gilbertie, an energy trader at Fimat in New York. "But I have no faith in it staying up there."[/quote] So if does stay above $80....then look out! We will be getting killed as usual."

JAP said: "They stair-step it on purpose (one step back, two steps foward)... it get's people over the shock of sudden increases and people complain about it a lot less."

AlfredSokol said: "The guy contradicts himself in that article. But I agree with JAP. They "ease it in" like you would with a virgin. Otherwise the sudden shock might be too much :)"

darsh999 said: "Ya it seems to be looking a dangerous situation but we will definately see the result of this after sometime.:("