Dagnabbit

[thebitterguy]

Dollar fluctuations just caused the price of Cynra's Christmas gift to go up 20%. Is there any chance that the price of oil will surge within the next few weeks?

Comments

[elissa-carey.livejournal.com]

I feel your pain there, but: God, I hope not. Gas prices where I'm at have dropped as low as $2.19/gal. for regular. We haven't seen those kinds of prices for a few years. I'm seriously scraping by right now, putting $6 worth into my tank here and there just to get to and from classes and nowhere else unless it's on the way.

Realistically speaking though, the prices will likely start climbing back up after Tuesday. And if not Tuesday, then if/when the American economy starts stabilizing again. (That is, if the banks actually use the bailout money for its intended purpose instead of gobbling up other banks they can't afford to support.)

[thebitterguy]

Yeah, that was kind of short sighted. It's just been weird having the dollar fluctuate so crazily lately.

Ah, well, Good for robin_d_laws, I guess.

[elissa-carey.livejournal.com]

I do wish it would even out to everyone's benefit, but I know that's unrealistic; someone's always going to get the short end of the stick. One day it's you, another day it's me, sometime it'll be someone else. I guess we've all just got to be ready to grab the brass ring when it swings our way. :)

[absinthe-dot-ca.livejournal.com]

Some analysts feel the Canadian dollar will be somewhere above $0.90 USD again before the end of the year. Given the gains this week, that's entirely possible.

What I see in my crystal ball....

[shellyinseattle.livejournal.com]

With the summer driving season over, oil prices tend to go down and stay down unless something unforeseen comes along. Only possibility for prices to go that is clearly foreseeable is that OPEC countries are trying to cut production, but that takes sometimes takes a while to get through the pipelines (groan, I know). Don't know if they're succeeding in getting all their member countries on board with this.

Looking at the economic data, people in the states are finally cutting back and I don't see this changing. This is true even in Seattle, where unemployment is relatively low, housing prices are only down to 2006 levels, and Starbucks drive-through lines are still long.

I get the feeling people are holding their breath waiting for things to really hit, so I don't expect much of a bump from holiday shopping. Not enough to effect gas prices nor U.S. dollar/Canadian dollar exchange much. However, prices in general may drop due to poor sales, so waiting until that point could help you.

The presidential election may have some impact. If in the horrible event McCain is elected, I would predict the dollar to plummet. Perhaps not right away, but soon, due to the loss of confidence the people holding dollars in foreign lands will have in our ability to get things on track. So I'd absolutely hold off on buying until after Nov 4th.

Re: What I see in my crystal ball....

[thebitterguy]

Excellent. After tonight, it is.