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Gasoline Tumbles 2% as Dollar Surges, Fuel Demand Declines

Bloomberg.com -- Gasoline futures slid 2 percent as a surging dollar reduced the investment appeal of commodities and as demand for the motor fuel declined.

Gasoline, which reached a 17-month high March 17, tumbled as the dollar gained 0.6 percent against the currencies of six major U.S. trading partners as of 3:25 p.m. in New York. Motor fuel demand slipped 1.6 percent last week, according to the Energy Department.

“A breakout to the upside of the dollar index gives potential for considerable downside for commodities,” said Tom Knight, vice president of trading and supply at Truman Arnold Cos. in Texarkana, Texas.

Gasoline for April delivery lost 4.53 cents, or 2 percent, to settle at $2.2556 a gallon on the New York Mercantile Exchange. Prices were little changed for the week.

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Submitted Mar 20, 2010 By: UncleCurt

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ENORMS Champion Author Colorado Posts:3,014 Points:1,171,335 Joined:Sep 2006	Message Posted: Mar 21, 2010 5:44:29 PM Ignore ENORMS Report Abuse It is only temporary...speculators will see to that!!
ArmydudeNC Champion Author North Carolina Posts:5,781 Points:911,400 Joined:Jul 2009	Message Posted: Mar 21, 2010 7:00:00 AM Ignore ArmydudeNC Report Abuse Only a temporary tumble, speculators will see to that.
phurburger Champion Author Atlanta Posts:2,555 Points:530,670 Joined:Oct 2005	Message Posted: Mar 20, 2010 10:55:41 PM Ignore phurburger Report Abuse It could certainly stand to fall a good bit more.
Night Owl Champion Author Toronto Posts:5,260 Points:1,332,750 Joined:Jul 2004	Message Posted: Mar 20, 2010 8:52:40 PM Ignore Night Owl Report Abuse Some good news. Now let's see lower prices at the gas pumps.
Valricoslash Champion Author Tampa Posts:4,285 Points:885,395 Joined:Nov 2008	Message Posted: Mar 20, 2010 7:48:36 PM Ignore Valricoslash Report Abuse Unfortunately that will probably translate into a 2 percent gain at the pump.
Pete12 Champion Author Albany Posts:3,598 Points:1,244,475 Joined:Nov 2005	Message Posted: Mar 20, 2010 6:45:42 PM Ignore Pete12 Report Abuse I hope they keep basing investment choices on the dollar as long as it stays strong.
VWC Veteran Author Maryland Posts:450 Points:730,490 Joined:Oct 2004	Message Posted: Mar 20, 2010 6:32:34 PM Ignore VWC Report Abuse Speculators will find a way to jack up the price.
FordF2502001 Champion Author Mississippi Posts:5,678 Points:1,154,720 Joined:Sep 2008	Message Posted: Mar 20, 2010 6:06:18 PM Ignore FordF2502001 Report Abuse No news here. Pump prices heAded to 3
carefrey Champion Author Orlando Posts:3,352 Points:717,375 Joined:Sep 2009	Message Posted: Mar 20, 2010 6:04:03 PM Ignore carefrey Report Abuse The prices are still rising in Florida!
DrCashFlow Champion Author Massachusetts Posts:4,775 Points:1,168,555 Joined:Jun 2008	Message Posted: Mar 20, 2010 6:01:14 PM Ignore DrCashFlow Report Abuse continuation of stronger dollar, looking like the major default currency, should help keep a lid on various energy prices. [Edited by: DrCashFlow at 3/20/2010 7:01:51 PM EST]
djtdi Champion Author San Jose Posts:2,829 Points:523,805 Joined:Aug 2005	Message Posted: Mar 20, 2010 5:53:58 PM Ignore djtdi Report Abuse So gasoline prices tumble 2% and it does not reflect equally at the pump for consumers. Some one some day may research the causes of this anomaly and end up getting a Noble Prize for discovering the truth behind it.
Zeke33 Champion Author New Hampshire Posts:3,867 Points:1,277,835 Joined:Sep 2005	Message Posted: Mar 20, 2010 5:43:45 PM Ignore Zeke33 Report Abuse What a play on words, 2% is a tumble?
letmathe Champion Author Chicago Posts:12,416 Points:2,730,115 Joined:May 2001	Message Posted: Mar 20, 2010 5:41:51 PM Ignore letmathe Report Abuse can prices tumble up?!
tc316 Champion Author Twin Cities Posts:7,735 Points:1,270,905 Joined:Apr 2007	Message Posted: Mar 20, 2010 5:35:02 PM Ignore tc316 Report Abuse Tumble? and gas prices don't go together
kidrockTX Champion Author Fort Worth Posts:3,854 Points:508,370 Joined:Sep 2008	Message Posted: Mar 20, 2010 5:33:49 PM Ignore kidrockTX Report Abuse so why are the pump prices here going up more
threewheeler Champion Author Seattle Posts:2,377 Points:318,330 Joined:Jun 2008	Message Posted: Mar 20, 2010 5:27:05 PM Ignore threewheeler Report Abuse haven't seen an excuse that higher gas prices didn't like
Helms Champion Author Fort Worth Posts:4,724 Points:1,494,080 Joined:Jun 2005	Message Posted: Mar 20, 2010 5:25:43 PM Ignore Helms Report Abuse WHERE??? Not here.. Two stations went down a penny (should have been a nickel to correspond to a 2% drop) and another went up a penny....so....it sure didn't translate into the price at the pump!
mvosevich Champion Author St. Louis Posts:5,453 Points:1,108,165 Joined:Aug 2004	Message Posted: Mar 20, 2010 5:24:04 PM Ignore mvosevich Report Abuse Gas goes up, gas goes down, any more exciting news?
sjl08203 Champion Author New Jersey Posts:5,865 Points:1,329,350 Joined:Aug 2005	Message Posted: Mar 20, 2010 5:22:02 PM Ignore sjl08203 Report Abuse Wait until tomorrow
preacherjohn Champion Author Modesto Posts:2,381 Points:1,498,440 Joined:May 2006	Message Posted: Mar 20, 2010 5:21:40 PM Ignore preacherjohn Report Abuse Does this mean we'll see lower prices at the pumps--I've not seen a lower price in a long time.
30mpg80 Champion Author Lexington Posts:4,486 Points:1,021,970 Joined:Nov 2008	Message Posted: Mar 20, 2010 5:18:40 PM Ignore 30mpg80 Report Abuse Don't hold your breath waiting for a decrease in pump prices
OHMS Champion Author Orange County Posts:10,792 Points:1,249,445 Joined:May 2005	Message Posted: Mar 20, 2010 5:16:25 PM Ignore OHMS Report Abuse too much NCAA butt time this month; gas sales down except for pizza delivery drivers.
LPman Veteran Author Arkansas Posts:383 Points:1,096,300 Joined:Aug 2006	Message Posted: Mar 20, 2010 5:14:58 PM Ignore LPman Report Abuse Give it a day or two, it will go back up
imadriver Veteran Author Twin Cities Posts:491 Points:283,915 Joined:Dec 2009	Message Posted: Mar 20, 2010 5:13:05 PM Ignore imadriver Report Abuse How long before the Obama administration tries to claim credit for what amounts to a cyclical event? Its members need a tutorial on market fluctuation. They might find that the down cycles last shorter and the up cycles last longer when there is less interference by government.
nojsts Champion Author St. Louis Posts:14,048 Points:2,829,905 Joined:May 2002	Message Posted: Mar 20, 2010 5:05:25 PM Ignore nojsts Report Abuse Fuel demand dows is because no one can afford to go anywhere because gas is so high. What does big oil care? They don't.
MizB Champion Author Sacramento Posts:1,747 Points:449,595 Joined:Apr 2006	Message Posted: Mar 20, 2010 4:59:39 PM Ignore MizB Report Abuse Let's hope the dollar stays strong long enough to reverse the recent increase in gas prices.
aarrrt Champion Author San Diego Posts:5,422 Points:1,211,190 Joined:May 2008	Message Posted: Mar 20, 2010 4:07:59 PM Ignore aarrrt Report Abuse I don't know Bloomberg. Today in my area prices went up 10 cents a gallon. Tumbling upwards I guess.
ops3 Champion Author Cincinnati Posts:1,229 Points:737,025 Joined:Dec 2007	Message Posted: Mar 20, 2010 3:33:17 PM Ignore ops3 Report Abuse Maybe for for Communist billionaire Bloomberg it's "Tumbling"; but, for me here in the Midwest, it's a 20¢ increase followed by a 10¢ increase a few days later!
virginia52 Champion Author Alaska Posts:5,737 Points:1,129,665 Joined:May 2007	Message Posted: Mar 20, 2010 3:23:50 PM Ignore virginia52 Report Abuse Gee how come our gas prices have been going up steadily. Alaska' crude dropped over $1.00 yesterday to close at $70 something per barrel yet the stations keep raising gas prices. When the price of oil declines our stations do not lower the price of gas. We are paying $3.69 per gallon. We are being gouged and our politicians do nothing about it because most of them are tied one way or another to oil companies.
CarrottopNe Champion Author Lincoln Posts:1,025 Points:368,415 Joined:Jan 2009	Message Posted: Mar 20, 2010 3:17:20 PM Ignore CarrottopNe Report Abuse I wouldn't bet on gas going down at the pump.
garman87 Champion Author Austin Posts:2,357 Points:1,942,175 Joined:Aug 2005	Message Posted: Mar 20, 2010 3:08:36 PM Ignore garman87 Report Abuse Keep conserving because developing countries out to get as much oil as possible.
Focus2 Champion Author Illinois Posts:6,297 Points:1,630,480 Joined:Mar 2006	Message Posted: Mar 20, 2010 3:07:48 PM Ignore Focus2 Report Abuse Tumble! Poor choice of words. Should have never raised.
applejoe Champion Author Twin Cities Posts:3,630 Points:766,320 Joined:May 2001	Message Posted: Mar 20, 2010 3:06:23 PM Ignore applejoe Report Abuse I'm sorry but I don't think that 4.53 cents a gollon is a tumble! 50 cents is more like a tumble.
Agabel Champion Author Colorado Springs Posts:2,423 Points:1,126,545 Joined:Aug 2005	Message Posted: Mar 20, 2010 3:02:18 PM Ignore Agabel Report Abuse probably won't last very long or drop very much
LanguageMan1 Champion Author Tampa Posts:9,135 Points:1,196,185 Joined:Apr 2008	Message Posted: Mar 20, 2010 3:01:27 PM Ignore LanguageMan1 Report Abuse Always excuses for whatever direction it goes. Fuel demand has been in a decline for over a year. Get real.
JerryBx7 Champion Author Virginia Beach Posts:5,674 Points:850,475 Joined:Oct 2008	Message Posted: Mar 20, 2010 3:01:17 PM Ignore JerryBx7 Report Abuse 2 percent in futures won't get you a penny at the pump. Cheap gas is in the past, high prices are in the present and Higher prices are the future.
POLELANE Champion Author Ohio Posts:7,148 Points:828,370 Joined:Mar 2008	Message Posted: Mar 20, 2010 3:00:51 PM Ignore POLELANE Report Abuse fuel demand may have decreased in this survey; this period; but the developing nations have their eye on more than they ever bought before.
popeye2009 Veteran Author Ottawa Posts:320 Points:280,545 Joined:Sep 2009	Message Posted: Mar 20, 2010 2:59:29 PM Ignore popeye2009 Report Abuse not likely go down much, it would be a tease before snapping back up.
jarrjazz1 Champion Author British Columbia Posts:2,189 Points:450,615 Joined:Sep 2008	Message Posted: Mar 20, 2010 2:58:34 PM Ignore jarrjazz1 Report Abuse keep conserving!
PDQBlues Champion Author San Diego Posts:4,706 Points:980,350 Joined:Jan 2009	Message Posted: Mar 20, 2010 2:57:17 PM Ignore PDQBlues Report Abuse Keep those prices falling!
caddilac Champion Author Ontario Posts:13,781 Points:1,672,480 Joined:Apr 2007	Message Posted: Mar 20, 2010 2:55:10 PM Ignore caddilac Report Abuse When are gas prices going to tumble that 2% at the pumps?
JXQW Champion Author Kansas City Posts:2,103 Points:514,370 Joined:Jul 2008	Message Posted: Mar 20, 2010 2:55:02 PM Ignore JXQW Report Abuse Both stock and gas tumbles ...
toadNY Champion Author Albany Posts:4,558 Points:1,046,550 Joined:Apr 2008	Message Posted: Mar 20, 2010 2:53:14 PM Ignore toadNY Report Abuse Gas the same or up in Albany NY. If we want the change obumer talked about Join the AMERICAN REVOLUTION to VOTE ALL INCUMBENTS OUT in 2010, & obumer in 2012 & the rest of congress in 2014! If there were good why is the country on the brink of a DEPRESSION??? If death care & crap & trade are passed the END will come.
cudatim Champion Author San Antonio Posts:2,186 Points:1,081,005 Joined:Jan 2007	Message Posted: Mar 20, 2010 2:52:54 PM Ignore cudatim Report Abuse Can't see any effect here.
jwalkerh Champion Author Louisiana Posts:4,307 Points:1,009,680 Joined:Oct 2008	Message Posted: Mar 20, 2010 2:50:29 PM Ignore jwalkerh Report Abuse Tumbles at the top does not even cause a ripple at the bottom unless you include price increases for us.
djgunrunner Champion Author Salt Lake City Posts:7,583 Points:1,886,845 Joined:Apr 2005	Message Posted: Mar 20, 2010 2:49:41 PM Ignore djgunrunner Report Abuse If this health care disaster passes then they will foul the dollar again. We are in big trouble.
southjerseyal Champion Author New Jersey Posts:11,458 Points:1,510,815 Joined:Mar 2005	Message Posted: Mar 20, 2010 2:48:30 PM Ignore southjerseyal Report Abuse It's tumbling UP here in Berlin, NJ from what I see...
Escape5 Champion Author Cleveland Posts:9,221 Points:1,793,740 Joined:Feb 2006	Message Posted: Mar 20, 2010 2:46:35 PM Ignore Escape5 Report Abuse 2% is a tumble? Who writes this stuff?
adf2240 Champion Author Minnesota Posts:2,448 Points:527,460 Joined:Dec 2004	Message Posted: Mar 20, 2010 2:42:14 PM Ignore adf2240 Report Abuse That's what you call a TUMBLE?
HockeyLady Champion Author New Jersey Posts:5,049 Points:1,995,890 Joined:Jun 2005	Message Posted: Mar 20, 2010 2:41:22 PM Ignore HockeyLady Report Abuse haven't seen an excuse that higher gas prices didn't like