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GasBuddy News Article

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Oil prices fall with US budget talks stalling just 8 days before 'fiscal cliff'

Associated Press -- Oil prices fell Monday, just eight days before the U.S. arrives at the "fiscal cliff" deadline without a budget agreement in place.

If no deal is reached by Jan. 1, steep tax increases and government spending cuts will automatically take effect that will jar the U.S. economy and potentially throw it into recession, economists have warned.

Benchmark oil for February delivery fell 14 cents to $88.52 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.47 Friday to finish at $88.66 per barrel in New York, the contract's lowest point in three weeks. It dropped to $87.96 per barrel at one point Friday.

Oil prices tend to drop when a major world economy is threatened by a downturn, which more often than not leads to reduced deman


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Submitted Dec 24, 2012 By: RENEGADEGAS
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil prices fall with US budget talks stalling just 8 days before 'fiscal cliff' Back to Topics
REPLIES (newest first) Post a Reply
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bston
Champion Author Oklahoma City

Posts:3,445
Points:973,475
Joined:Mar 2011
Message Posted: Dec 26, 2012 8:56:34 AM

Gas prices fall the past month or so, but certainly won't continue to stay falling like they've risen the past few years!
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jrs4125
Champion Author Indiana

Posts:4,402
Points:921,745
Joined:Sep 2011
Message Posted: Dec 26, 2012 2:07:26 AM

Oil prices fall..... pump price remains the same.
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1fulltank
Champion Author Buffalo

Posts:9,379
Points:1,843,365
Joined:Nov 2008
Message Posted: Dec 25, 2012 2:13:44 PM

Nice to see prices actually FALL on the heels of bad news.
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niceguytx
Champion Author Houston

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Message Posted: Dec 25, 2012 11:10:59 AM

More good news!
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CDMAuto
Champion Author Connecticut

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Message Posted: Dec 25, 2012 8:45:15 AM

Merry Christmas,
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gs7101
Champion Author San Antonio

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Message Posted: Dec 25, 2012 6:57:44 AM

Merry Christmas To All!
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sciguyrulz
Rookie Author Houston

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Points:662,530
Joined:Mar 2011
Message Posted: Dec 25, 2012 2:22:08 AM

What saddens me about the "fiscal cliff" is that it is entirely man made. The representatives that were elected to office to protect our best interests can't get it together and have created our crisis. This isn't greed, it is ego....and that is really sickening!
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NemoIL
Champion Author Illinois

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Message Posted: Dec 25, 2012 12:39:28 AM

Going over the fiscal cliff gives obama everything he wants, higher taxes on everybody, huge cuts to the military, and it grows the size of the federal government. And he can blame the republicans for the damage it does to our country.
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sarasotasingle
Champion Author Sarasota

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Message Posted: Dec 25, 2012 12:30:42 AM

PRICES ARE GOING UP HERE
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crreed1
Champion Author West Virginia

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Message Posted: Dec 25, 2012 12:16:51 AM

they are on vacation
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jcdakota
Champion Author Baltimore

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Joined:Nov 2010
Message Posted: Dec 25, 2012 12:12:52 AM

It's after the election so don't worry about the voters!! Jump over the cliff!!!
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jetlagAK
Champion Author Anchorage

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Message Posted: Dec 25, 2012 12:11:02 AM

Budget talks! Ha!
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UpSol7
Champion Author Augusta

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Message Posted: Dec 25, 2012 12:10:00 AM

Gosh, gas prices fluctuate?
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judgemobile
Champion Author Ohio

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Message Posted: Dec 25, 2012 12:08:29 AM

after we go over the cliff, will the whole economy be "shovel ready" ?
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Dailyrun
Champion Author Kentucky

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Message Posted: Dec 25, 2012 12:08:16 AM

its a big mess
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JamesCalvin
Champion Author Lancaster

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Message Posted: Dec 25, 2012 12:06:43 AM

Sell gas quickly!

Sell gas quickly!

Sell gas quickly!

Sell gas quickly!

Sell gas quickly!

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pastorpaulcg
Champion Author Virginia

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Joined:Dec 2010
Message Posted: Dec 25, 2012 12:06:29 AM

Prices aren't falling around here
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TXGasPriceSpy
Champion Author Fort Worth

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Message Posted: Dec 25, 2012 12:06:07 AM

Merry Christmas.
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arb0526
Champion Author Greensboro

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Message Posted: Dec 25, 2012 12:05:21 AM

old news
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regout
Champion Author Quebec

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Message Posted: Dec 25, 2012 12:05:00 AM

Good, maybe it will fall here.
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boatfloyd
Champion Author Jacksonville

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Message Posted: Dec 25, 2012 12:04:59 AM

Prices go up and down.
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thuathienhue
Champion Author Michigan

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Message Posted: Dec 25, 2012 12:04:09 AM

Ok
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joel27nc
Champion Author Raleigh

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Message Posted: Dec 25, 2012 12:04:05 AM

Needs to keep falling!
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cheaper0ON
Champion Author Ontario

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Message Posted: Dec 25, 2012 12:03:34 AM

Good.
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Bus936
Champion Author Lexington

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Message Posted: Dec 25, 2012 12:03:31 AM

Oil could have fallen, but the pump prices sure haven't.
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amearly
Champion Author Michigan

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Message Posted: Dec 25, 2012 12:02:33 AM

Merry Christmas to all.
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carpenter4u
Champion Author Virginia

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Message Posted: Dec 25, 2012 12:01:46 AM

haven't seen it around here
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NAVYHM
All-Star Author Cleveland

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Message Posted: Dec 24, 2012 11:59:44 PM

OK...
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regout
Champion Author Quebec

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Message Posted: Dec 24, 2012 11:59:14 PM

Good, maybe it will fall here.
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frostyWV
Champion Author West Virginia

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Message Posted: Dec 24, 2012 11:56:32 PM

keep on falling.
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 24, 2012 11:53:38 PM

Well, let me ask you something, @texasvet. When is this gonna stop? I mean it's Christmas, for Pete's sake and we have people here saying that the President is scum for going on vacation. There's nobody in Washington. They've all gone home! But I don't hear one peep about that.

I hate to break it to these people but we had an election and the guy you voted for didn't get elected. I'm sorry you're disappointed but get over it. Please tell me how all this venting of bile is helping anything.
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clermont40miles
Champion Author Cincinnati

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Message Posted: Dec 24, 2012 11:53:25 PM

This is like saying oil prices fall as winter snow blankets North Dakota.

No correlation.

The cliff is approaching as planned. It won't hurt - the falling part. It's the sudden stop that gets you.

Let's all hold hands as we go down together. Maybe sing Kumbaya on the way down. Who are those guys up there laughing at us?
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36IHBinder
Champion Author Illinois

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Message Posted: Dec 24, 2012 11:53:22 PM

Put on your parachute. We are going over
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serrog
Champion Author Nova Scotia

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Message Posted: Dec 24, 2012 11:51:45 PM

I cant believe this political one upmanship and name calling. Time to rally together Americans and get the economy fixed.
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pastorpaulcg
Champion Author Virginia

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Message Posted: Dec 24, 2012 11:51:38 PM

Not around here, starting to rise
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vibdata
Champion Author Massachusetts

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Joined:Nov 2005
Message Posted: Dec 24, 2012 11:51:12 PM

Sorry. But I saw that oil prices ROSE today. They did not drop. And gas prices, which everyone was proclaiming would drop a lot, rose also. That means PAIN in the PUMP for all you GASSERS.
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goodbuy
Champion Author Michigan

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Message Posted: Dec 24, 2012 11:50:11 PM

Lets do nothing and let the pieces fall where they may.
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tidalwave3
Champion Author Tallahassee

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Message Posted: Dec 24, 2012 11:48:13 PM

Liberals can't accept responsibility.
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texasvet
Champion Author Texas

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Message Posted: Dec 24, 2012 11:46:15 PM

Aviator Rob - That was a pretty curmudgeonly statement.
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texasvet
Champion Author Texas

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Message Posted: Dec 24, 2012 11:44:47 PM

N4PIP - You're what they refer to as a "low information voter".
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pcwhiz5385
Sophomore Author Georgia

Posts:113
Points:51,860
Joined:May 2012
Message Posted: Dec 24, 2012 11:39:07 PM

we're doing so good, then they throw us back into recession
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 24, 2012 11:35:43 PM

Wow, seriously people. Do the Internet trolls on this forum not take off one day even for CHRISTMAS??? You people should be ashamed of yourselves. What happened in your lives to make all of you such unyielding curmudgeons?

You're all a bunch of grinches that need your hearts to grow three sizes.
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ramshot412
Champion Author Riverside

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Message Posted: Dec 24, 2012 11:31:52 PM

The Republi-Cons holding up everything.
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N4PIP
Champion Author Miami

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Message Posted: Dec 24, 2012 11:31:16 PM

Boehner and the Republicans screwed the U.S. economy over during the Bush years. Look what happened in 2008. Here we go again. Time to clean the House of anyone who pledges allegiance to Grover Norquist.
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 24, 2012 11:30:28 PM

None of these predictions hold any weight. We'll just have to wait and see what happens.
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kzrooster
Champion Author Kalamazoo

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Message Posted: Dec 24, 2012 11:29:57 PM

anytime . . . .
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CCLighthouse
Champion Author Hartford

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Message Posted: Dec 24, 2012 11:29:15 PM

Won't matter.
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Dragnet
Champion Author Arizona

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Message Posted: Dec 24, 2012 11:27:20 PM

And Odummo is in Hawaii ignoring the whole thing. Some chief executive this nation has.
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FuelOilOH
Champion Author Cleveland

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Message Posted: Dec 24, 2012 11:24:06 PM

And on 12/26 it will go back up.
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BBHybrid
Champion Author Pittsburgh

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Points:1,310,075
Joined:Aug 2008
Message Posted: Dec 24, 2012 11:22:31 PM

liars. gas has not receedied. made up bull spit here
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