Oil closed last week down from its high of $147 a barrel to $130. I am getting dizzy from the constant up and down of oil prices. I will say it was nice to see gas finally come down. Its sad that we get excited about gas dropping 10 cents from $4.35 to $4.25. Especially consider it was a $1.00 or so cheaper only a year ago. It will be interesting to see what this week brings. I do not want to jinx it but I will be praying for the current trend to continue. For those of you trying to squeeze every penny www.gasbuddy.com is a good place to go to find the cheapest gas in your area.

    On a side note and true to form it seems even if this miracle of falling oil continues Congress will soon make up for such trechery. I found and article that states not only to the possibility of a temporary elimanation of the federal gas tax fail but it is more than likely to go up. Glad I do not drive an SUV. 
Finance.Yahoo.Com - Click for Complete Story

-= Matt

   I said in a post in June, Oil and gas prices increase and no relief in sight, that oil would continue its rise and we would continue to feel the pressure as consumers. Now this happens and it make me look like a liar … or does it ? In the article one analyst states that just because oil has dropped from its high of $147 to $130, does not mean all our fears have been cured and we can get back to partying like rock stars. In fact towards the end of the article the author mentions that the AAA report average still holds at $4.114. And I second this as know of the gas stations have lowered their prices either.

    What does this mean ? I think part is as mentioned int the article the market movers our taken some of the huge gain they got in the run-up of oil futures and buying stocks that have been crushed. For instance , Bank of America ( BAC ) , was up $3.83 at closing.  Not surprising considering it still trades for $5.00 below book value. I think the other side of this is the price has to come down so they can move it up again.
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   So my strategy remains, pay off debt, and buy good stocks at a discount. Race you to a million.

-= Matt